Deals

EIB boosts South African road infrastructure(4)

The European Investment Bank has agreed to lend the South African National Roads Agency €120m to upgrade and extend two toll roads in the north of the country.

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The European Investment Bank (EIB) has provided a boost for South Africa’s road infrastructure, lending the South African National Roads Agency €120 million to upgrade and extend two toll roads in the north of the country.
 
The funding will go towards upgrading and widening 30 kilometre of the R21 between Pretoria and O.R. Tambo International Airport near Johannesburg, in addition to improving more than 160 kilometre of the N17 between Springs and Ermelo.
 
The projects, which form part of South Africa’s ongoing road improvement programme, were deemed to be of strategic importance to the nation’s transport infrastructure by the bank.
 
The loan is the third the EIB has provided to South African projects so far this year. Last year the bank lent a total of €202.5 million to three projects in the country, and is set to lend a total of €900 million to South African schemes in the five years 2008 to 2013.