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Thursday, 18 July 2013

Support for infrastructure in South Africa

A €100 million programme to support infrastructure development in South Africa and the region was approved by the European Union ahead of the EU-South Africa Summit which took place on July 18 in Pretoria (South Africa).
The money will be allocated through a grant-loan blending mechanism– the programme will involve a cooperation between the Development Bank of Southern Africa and European development finance institutions: the European Investment Bank (EIB), Kreditanstalt für Wiederaufbau (KfW) and Agence Française de Développement (AFD).
EU grants will support a range of activities, including technical assistance for the preparation, management and implementation of projects, as well as direct grants to co-finance capital expenditure of infrastructure projects.
The European Union's support programme for South Africa (2007-2013), with its overall objective of reducing poverty and inequality, amounts to €980 million.

Source: European Commission