Project General Description
The project involves the extension of a non-sovereign guaranteed line of credit of USD 100 million to support competitive infrastructure development, expansion, and rehabilitation in the SADC sub-region (excluding South Africa). DBSA will utilize at least 80% of the proceeds of the LOC to finance infrastructure projects in the sub-region. The major sectors include, without limitation, Energy, Transport, ICT, Water and Sanitation. The remaining proceeds of LOC will be utilized to finance infrastructure and related projects in the Manufacturing, Mining, Tourism and Financial services sectors within South Africa. A minimum of ten (10) infrastructure projects or a total of twenty five (25) infrastructure supportive projects are expected to be financed from the Line of Credit facility.
Through the LOC and working with DBSA as a development and strategic partner, the Bank seeks to: (a) Broaden and deepen its development impact; (b) maximise poverty reduction; (c) facilitate economic integration and (d) good corporate governance practices by: Financing infrastructure projects with high development impact content in the sub-region, thereby alleviating poverty and improving the quality of life, as well as, strengthening the regional integration of the countries in SADC; and Supporting the economic growth and promoting stronger economic integration within the member states of SADC, by facilitating mainly export-oriented investments by private enterprises.