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FranceEconomy3 days ago

South Africa secures $1bn from BRICS bank for urban infrastructure

The New Development Bank (NDB), established by BRICS nations, has approved $1 billion in funding for South Africa's urban infrastructure improvements. The money will be used to upgrade essential services like water supply, sanitation, electricity, and waste management across eight municipalities. These include major cities such as Johannesburg, Cape Town, and others. The NDB focuses on infrastructure projects such as energy, roads, and ports. According to the bank, South Africa faces an infrastructure gap estimated at $254–$329 billion between 2022 and 2030.

Government representatives from BRICS countries and partner countries pose for a photo at the BRICS foreign ministers' meeting in New Delhi, India, Thursday, May 14, 2026

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Copyright © africanews

AP/Manish Swarup - Copyright 2026 The Associated Press. All rights reserved.

By Africanews

Last updated:

37 minutes ago

Brics Summit

The New Development Bank (NDB) has approved $1 billion for South Africa's infrastructure upgrades.

The funds will support investment in the provision of essential ​urban services, including water supply and sanitation, electricity and solid waste management in eight South African municipalities, Reuters reported citing a statement from the the bank.

The benefiting municipalities are Johannesburg, Cape Town, Buffalo City, Ekurhuleni, eThekwini, Mangaung, Nelson ​Mandela Bay ​and Tshwane.

NDB was set up in 2015 by BRICS countries Brazil, Russia, India, China and South Africa.

It mainly lends to infrastructure projects such as energy, roads and ports.

South Africa's infrastructure gap was estimated at between $254-329 billion for 2022-2030, according to the bank.

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Source document: Reuters report

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AfricanewsParty-alignedCenter3 days ago
South Africa secures $1bn from BRICS bank for urban infrastructure

The New Development Bank (NDB), established by BRICS nations, has approved $1 billion in funding for South Africa's urban infrastructure improvements. The money will be used to upgrade essential services like water supply, sanitation, electricity, and waste management across eight municipalities. These include major cities such as Johannesburg, Cape Town, and others. The NDB focuses on infrastructure projects such as energy, roads, and ports. According to the bank, South Africa faces an infrastructure gap estimated at $254–$329 billion between 2022 and 2030.

Bias read (Center): The article presents factual information without overtly biased language or selective emphasis. It reports on a financial agreement involving international institutions and provides context about the infrastructure needs in South Africa. There is no clear ideological framing or omission of key facts

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