Lesotho Highlands Water Project Phase II (NDB-lesothohighlandswater)

Countries
  • South Africa
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.
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 31, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Trans-Caledon Tunnel Authority
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Water and Sanitation
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, etc.
Investment Amount (USD)
$ 0.22 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported ZAR 3.2 billion
Converted using 2019-03-31 exchange rate.
Project Cost (USD)
$ 2.23 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported ZAR 32 billion
Converted using 2019-03-31 exchange rate.
Primary Source

Original disclosure @ NDB website

Updated in EWS Nov 11, 2019


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Project Description

According to bank documents, the Lesotho Highlands Water Project Phase II is a next phase of an existing joint project between the Government of the Republic of South Africa and the Government of the Kingdom of Lesotho with the objective to augment water supply in the Vaal River Basin by transferring water from Lesotho to South Africa.

The NDB Sovereign Guaranteed Project Loan will be used by Trans-Caledon Tunnel Authority (TCTA), a government agency of the Republic of South Africa, for financing the construction of the dam and water transfer tunnel on the territory of Lesotho.

Investment Description
  • New Development Bank (NDB)

The total cost of the Project is estimated to be ZAR 32 billion. NDB will finance ZAR 3.2 billion, accounting for 10% of the total cost. The remaining balance will be financed by other Multilateral Development Banks, commercial and institutional investors through Bond Issuance by TCTA.

Private Actors
Contact Information

Contact information not provided at the time of disclosure