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The new development bank plans to lend up to 8 billion rand ($ 600 million) more in South Africa this year to standardize the rules of the game among its five member states.
The lender, supported by Brazil, Russia, India, China and South Africa started their activities in 2015 to support infrastructure projects and development initiatives in emerging economies. The leaders of the informal club of nations will gather in Johannesburg next week for its 10th Summit
"Our goal is to be fair among our five members," said NDB President KV Kamath in an interview . the $ 4 billion we are going to make this year, we should lend about $ 800 million "in each nation, he said." I hope this year we will reach that number. "
The NDB announced in May a $ 200 million loan to Transnet, the public carrier and freight operator, to rehabilitate the Durban container terminals on the east coast of the country.
It will intensify its efforts to develop sustainable infrastructure in the continent's most industrialized economy with two new loans, said Kamath.One of them will go to a bank which, in turn, will lend these funds to projects Renewable energy, he said, refusing to name the institution.The second will be made available to critical infrastructure, said Kamath in the interview Wednesday, without giving more details
Foreign exchange risk
Separated NDB activated a $ 180 million loan to Eskom that was dormant since 2016 and will be used to build transmission lines and a substation for the integration of renewable energy projects. Independent power producers in the Soweto region, said Anil Sooklal, South Africa's Brics ambbadador to Johannesburg.
The Shanghai-based bank will also start raising funds and lending in the South African rand to protect its clients from foreign exchange risk, Kamath said. He is already doing it in China.
"It took us a while to figure out how to get projects in South Africa, but I think we are slowly going into this learning curve," he said. The lender opened the African Regional Center last year to help identify projects in the country that he can support.
The rise of Cyril Ramaphosa to the South African presidency in February, followed by radical changes in the management of some states. Kamath said:
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