R11.4 billion World Bank loan could be used to help fund new grants for South Africa: economists

R11.4 billion World Bank loan could be used to help fund new grants for South Africa: economists

On Friday (21 January), the World Bank approved an R11.3 billion ($750 million) development policy loan for South Africa, with questions now being raised about how the additional money could be used.

“The World Bank loan, which has a 13-year repayment period with a three-year grace period, will assist in financing the ongoing spending on critical health and social safety net programmes,” the Bureau for Economic Research (BER) said in a research note on Monday (24 January).

“Therefore, some of the funds may be used to help pay for the inevitable extension of the social relief of distress (SRD) grant beyond […]

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