Bank of China pledges a USD 1.1 billion loan to the South Africa Department of Trade and Industry to develop SEZs and Industrial Parks
Pledged amount
$ 1198834722.6665442
Adjusted pledged amount
$ 1198834722.6665442
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
South Africa
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
No
Category
Project lifecycle
Description
On September 2, 2018, during the Forum on China-Africa Cooperation in Beijing, the Bank of China (BoC) and South Africa's Department of Trade and Industry (the DTI) signed an investment cooperation agreement to promote Special Economic Zones (SEZs) and industrial parks. According to a media article, President Ramaphosa announced that the Bank of China will provide a USD 1.1 billion (R 16.5 billion) loan for this purpose. The DTI and the National Development and Reform Commission of China also signed a memorandum of understanding (MoU) to cooperate on international investment promotion for SEZs and Industrial Parks. This is a follow-up to an MoU signed by the DTI and the Bank of China on March 28, 2017, which promised greater cooperation for the development of special economic zones in South Africa. This project will include capacity and institution building and investment facilitation. The project will prioritize assisting the DTI with the implementation of Special Economic Zones and industrial projects within Musina and Makhado in Limpopo.
Additional details
Number of official sources
3
Number of total sources
5
Details
Cofinanced
No
Direct receiving agencies [Type]
South Africa Department of Trade and Industry (DTI) [Government Agency]
Implementing agencies [Type]
National Development and Reform Commission (NDRC) [Government Agency]