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CT secures over R2bn in infrastructure financing from French development bank
Cape Town Mayor Geordin Hill-Lewis conducted a signing ceremony with the Agence Francaise de Developpement (AFD) on Wednesday, 21 June, following approval of €100m (just over R2bn) in developmental finance from the bank earlier this year.
Source: Hansueli Krapf © 123RF.com
The €100m is a developmental loan and will be spread across several categories of infrastructure, including water and sanitation (49%), urban mobility (24%), and access to electricity (17%).
"AFD has partnered with the City of Cape Town on a number of key impact areas, including municipal infrastructure, biodiversity and water security. With this loan, we hope to further support the city in addressing socio-spatial inequalities and sustainable climate-resilient development," said Audrey Rojkoff, AFD Southern Africa regional director and country director for South Africa.
Besides financial funding in the form of loans and grants, AFD has also provided technical assistance to plan major infrastructure projects.
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