New Development Bank is lending South Africa $1-billion for the State to upgrade infrastructure in its eight biggest cities, Business Day reported.
The so-called metropolitan municipalities will use the funds to improve supply of water, sanitation and waste management, the Johannesburg-based newspaper reported, citing the lender set up by original Brics members — Brazil, Russia, India, China and South Africa.
President Cyril Ramaphosa has acknowledged that scores of municipalities are deeply dysfunctional and unable to provide basic services — as evidenced by recent water outages in Johannesburg, Pretoria and other towns — and has said the problems are being addressed.
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