World Bank grants South Africa a $1.5B loan for infrastructure upgrade and green energy transition
JOHANNESBURG — The World Bank granted South Africa a $1.5 billion loan to upgrade transportation infrastructure and help it transition toward a low-carbon economy, the country's National Treasury said Monday.
Deteriorating rail systems, jammed ports and frequent blackouts have hindered vital industries like mining and auto manufacturing in South Africa , contributing to slow economic growth over the last decade in Africa's most developed economy.
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