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.
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.
Contact information not provided at the time of disclosure