The City of Cape Town has secured €100 million in development finance for infrastructure projects.
The loan is to be provided by France's development bank, Agence Francaise de Developpement . The bulk of the funding will be directed to water and sanitation, followed by public transport initiatives called urban mobility and access to electricity .According to a statement from the City, the loan is at a"more favourable rate when tested against the market."Supplied City of Cape Town
The AFD has had a long partnership with the City, having issued the first loan in 2013. It has supported the City in areas such as municipal infrastructure, biodiversity and water security, said Audrey Rojkoff, AFD Southern Africa regional director and country director for South Africa.