{"id":819659,"date":"2025-04-04T09:56:19","date_gmt":"2025-04-04T07:56:19","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=819659"},"modified":"2025-04-04T09:56:26","modified_gmt":"2025-04-04T07:56:26","slug":"plan-to-stop-the-collapse-of-south-africas-biggest-cities","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/819659\/plan-to-stop-the-collapse-of-south-africas-biggest-cities\/","title":{"rendered":"Plan to stop the collapse of South Africa’s biggest cities"},"content":{"rendered":"\n

South Africa, already counting on a $1 billion loan from the World Bank to regenerate its rundown cities, is seeking funding from some top global development-finance institutions to help with the revival. <\/p>\n\n\n\n

The BRICS nations\u2019 New Development Bank, the Asian Infrastructure Investment Bank, Germany\u2019s KfW and Agence Fran\u00e7aise de D\u00e9veloppement have expressed interest in supporting the program, the National Treasury said. <\/p>\n\n\n\n

Together, the four institutions have about $768 billion in assets, dwarfing the $15 billion held by South Africa\u2019s two main state-owned lenders, the Development Bank of Southern Africa and the Industrial Development Corp.\u00a0<\/p>\n\n\n\n

\u201cVarious development partners have been invited to participate\u201d in the Metro Trading Services program, the Treasury said in a response to queries. <\/p>\n\n\n\n

\u201cDisbursements are dependent on municipalities meeting specific targets.\u201d<\/p>\n\n\n\n

The government is trying to stem the collapse of services in urban centres such as Johannesburg and Pretoria. Power and water outages are regular occurrences, alongside erratic waste collection.<\/p>\n\n\n\n

The renewal program will focus on cities where 22 million people, or more than a third of the population, live across an area of almost 30,000 square kilometres. That\u2019s almost 20 times the size of London.\u00a0<\/p>\n\n\n\n

The disbursements of grants to municipalities that run the eight main cities and hit certain targets in improving services and collecting revenue are due to begin this year. <\/p>\n\n\n\n

The World Bank said that in addition to the $1 billion it has earmarked for the program, South Africa\u2019s Treasury will provide $2 billion. Municipalities are expected to add a further $6 billion from their own revenue and borrowing. \u00a0<\/p>\n\n\n\n

Part of the Treasury\u2019s allocation is reflected in its latest budget. <\/p>\n\n\n\n

\u201cThe new grant is intended to strengthen the management of, and infrastructure investment, in municipal entities that supply water and sanitation, electricity, energy and solid waste management services,\u201d it said in the budget review. <\/p>\n\n\n\n

\u201cThe grant will be augmented by results-based financing from international development-finance partners.\u201d<\/p>\n\n\n\n

\"\"<\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"

South Africa is looking for funding from some top global development-finance institutions to help with the revival of its rundown cities.\u00a0<\/p>\n","protected":false},"author":59,"featured_media":809911,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2091,10594,4423],"class_list":["post-819659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-brics","tag-kfw","tag-world-bank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/819659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=819659"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/819659\/revisions"}],"predecessor-version":[{"id":819662,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/819659\/revisions\/819662"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/809911"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=819659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=819659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=819659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}