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Development Bank and National Treasury to Launch R100 billion Infrastructure Fund

The Development Bank of Southern Africa (DBSA) and the National Treasury to sign an agreement to begin work on establishing an Infrastructure Fund aimed at improving South Africa’s different infrastructure problems.

The signing ceremony was attended by the respective heads of the DBSA and National Treasury, Patrick Dlamini and Dondo Mogajane, as well as the CEO of Infrastructure South Africa (ISA), Kgosientsho Ramakgopa, the parties agreed that the DBSA will both establish and manage the fund while receiving support from treasury.

“The National Treasury duly represented Director-General Mr Dondo Mogajane and the Development Bank of Southern Africa (DBSA) duly represented by the CEO Mr Patrick Dlamini and the Department of Public Works and Infrastructure duly represented by the CEO of Infrastructure South Africa (ISA), Dr Kgosientsho Ramokgopa, will on 17 August 2020 enter into a Memorandum of Agreement in respect of the DBSA’s mandate to establish and manage the Infrastructure Fund,” the DBSA said in a statement on Monday.