According to the English section of webangah News Agency, citing Mehr News Agency and BRICS TV, this loan-equivalent to 7 billion South African rand-is dedicated to strengthening transport infrastructure and enhancing the country’s economic connectivity.
A significant portion of these funds will be used to upgrade strategic transport routes, including the N2 and N3 corridors in KwaZulu-Natal Province, as well as the N1 route. These arteries play a critical role in both national and regional trade.
Alongside these projects, the south African government has launched an extensive railway network rehabilitation program, supported financially by the African Development bank and the Development Bank of Southern Africa. A main focus of this initiative is balancing rail and road transportation usage to ease highway congestion and improve logistics system resilience nationwide.
The New Development Bank (NDB), established by BRICS members Brazil, Russia, India, China, and South Africa, seeks to finance infrastructure projects promoting sustainable development within emerging economies.
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