World Bank $350M Unlocks $10B Private Infrastructure Funding South Africa
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World Bank agreed $350M financing March 5 via International Bank for Reconstruction and Development credit guarantee vehicle unlocking private financing infrastructure particularly power transmission grid expansion. Facility aims mobilise ~$10B capital private investors commercial lenders institutional investors over 10-year period supporting government economic reform agenda.
South African Finance Minister Enoch Godongwana quoted facility "support massive investments transmission infrastructure" incorporated company coming months. South Africa courts private investment thousands kilometres new power lines enhanced transformer capacity recovering decade crippling power cuts. World Bank funding follows Reuters report Group considering facility support.
Credit Guarantee Vehicle addresses infrastructure funding gap critical transmission expansion ending load-shedding crisis boosting industrial recovery investor confidence. Initiative aligns private capital mobilisation government reform priorities positioning South Africa energy infrastructure revival.
