{"id":461452,"date":"2018-07-23T15:02:59","date_gmt":"2018-07-23T14:02:59","guid":{"rendered":"https:\/\/en.financialafrik.com\/?p=461452"},"modified":"2018-07-23T15:02:59","modified_gmt":"2018-07-23T14:02:59","slug":"brics-bank-increases-lending-for-south-africa","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2018\/07\/23\/brics-bank-increases-lending-for-south-africa\/","title":{"rendered":"BRICS bank increases lending for South Africa"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>The New Development Bank (NDB), formerly known as the BRICS Development Bank, plans to lend up to $ 600 million more to South Africa this year to spread funding more equitably between its five Member States.<\/p>\n<p>&#8220;Our goal is to be fair among our five members. If you look at the $ 4 billion we are going to make this year, we should lend about $ 800 million to each country. I hope this year we will reach that figure, &#8220;said NDB President K.V. Kamath, quoted by Bloomberg.<\/p>\n<p>NDB announces two new loans for South Africa, Kamath said. One of them will go to a bank which, in turn, will lend these funds for renewable energy projects. The second will be made available to the infrastructures.<\/p>\n<p>As a reminder, last May, the bank granted a $ 200 million loan to Transnet SOC Ltd., a South African port and cargo operator, to rehabilitate the Durban container terminals on the country&#8217;s east coast.<\/p>\n<p>Note that the Shanghai-based bank will also start raising funds and lending in South African rand to help protect its clients from currency risk.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The New Development Bank (NDB), formerly known as the BRICS Development Bank, plans to lend up to $ 600 million more to South Africa this year to spread funding more equitably between its five Member States. &#8220;Our goal is to be fair among our five members. If you look at the $ 4 billion we<\/p>\n","protected":false},"author":527297,"featured_media":461454,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[12000],"tags":[114,15188,556],"class_list":{"0":"post-461452","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-banks-insurance","8":"tag-brics","9":"tag-ndb","10":"tag-south-africa","11":"post_format-post-format-aside","12":"pmpro-has-access"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>BRICS bank increases lending for South Africa - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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