World Bank approves R7.6bn loan for Covid-19 vaccines
South
Africa's Covid-19 response has been given a boost.
The World Bank has approved a loan worth R7.6 billion for our country.
The government made the request, saying the assistance would help finance vaccine procurement contracts.
National Treasury says the loan forms part of the government's efforts to reduce debt service costs by making use of cheaper sources of funding through multilateral development banks.
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The loan will retroactively finance the procurement of 47 million coronavirus vaccine doses.
The bank says its new low interest will contribute to our government’s fiscal relief package.
