Tshwane gets its R1.6bn loan

13 June 2014 - 06:45 By KINGDOM MABUZA
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City of Tshwane. File photo
City of Tshwane. File photo
Image: SUPPLIED

The City of Tshwane received a major boost to its development when its application for a R1.6-billion loan was approved by the Development Bank of SA.

The city yesterday said it would use the money to accelerate the eradication of backlogs in the provision of water and sanitation, building and maintenance of roads, electricity reticulation and housing infrastructure.

The loan would also support the city's growth generally.

The bank said it supported municipalities in delivering socioeconomic infrastructure to counter unemployment, poverty and inequality.

"The bank participates in [municipal] public bond issuance and other funding, including project finance, to accelerate the delivery of social and economic infrastructure, such as the Bus Rapid Transport system," it said.

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