Early Warning System

Countries

South Africa

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

New Development Bank (NDB)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Jun 19, 2020

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

The Republic of South Africa

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Education and Health

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 1,000.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Loan Amount (USD)

$ 1,000.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Primary Source

Original disclosure @ NDB website

Updated in EWS Jun 27, 2021

Disclosed by Bank Jun 19, 2020

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The objective of the Program is to assist the Government of South Africa in its efforts to combat the outbreak of COVID-19, minimize the loss of human life, and reduce social and economic losses.

The Program will enable recovery of economic and social activity through (i) procurement and deployment of critical healthcare goods and services, which will enhance South Africa’s disease detection and diagnosis, infection prevention and control capacities; and (ii) increasing the amount of social grants paid out to beneficiaries to strengthen the country’s social assistance measures during the outbreak period, which will assist in reducing economic losses, particularly for the vulnerable population.

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Department of National Treasury of South Africa:

Thembi Mda
debtissuanceandmanagement@treasury.gov.za

Project Team Leader:Charmaine Kazamula
operations2@ndb.int