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New Development Bank approves up to $1bn loan for South Africa urban infrastructure

The New Development Bank (NDB) has approved a loan of up to $1bn for South Africa to upgrade its urban infrastructure in eight metropolitan municipalities, the lender backed by the Brics group of emerging economies said.

18 Jun 2026

Source: Reuters.

• "The program aims to boost investments in the provision of essential urban services, including water supply and sanitation, electricity and solid waste management," the NDB said in a summary of a meeting of its board of directors.

• The municipalities expected to receive investments are Johannesburg, Cape Town, Buffalo City, Ekurhuleni, eThekwini, Mangaung, Nelson Mandela Bay and Tshwane.

• The multilateral development bank was established in 2015 by Brics members Brazil, Russia, India, China and South Africa to fund infrastructure and sustainable development projects in emerging markets. In 2021 it expanded to include non-founding members.

Source: Reuters

Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

Go to: https://www.reuters.com/