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South Africa to get $475m loan from African Development Bank | SA News

South Africa has signed a $474.6m (R8.3-trillion) loan agreement with the African Development Bank to help finance infrastructure and clean energy plans, National Treasury said on Thursday.

Treasury said the loan offered concessional terms, including a three-year grace period. It gave the interest rate as the daily secured overnight financing rate plus 1.22%.

The financing follows a $1.5bn (R26.4bn) loan agreement signed last month with the World Bank to overhaul transport and energy infrastructure.

Reuters

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