Sizolekelela Kokuningi Isikweletu Esithathwe Uhulumeni – USomnotho

Written by on 24 January, 2022

By: Lindelani Mbatha

Economist Dante Mashile says the R11.5 billion loan approved by the World Bank will assists government in taking care of the poor and support the efforts to accelerate Covid-19 response.

In July 2020, the International Monetary Fund (IMF) granted SA more than R70 billion loan to support job creation and protection for businesses impacted by the Covid-19 pandemic.

Last year, it was announced that the country would get R14.5 billion loan from the New Development Bank.

Since the beginning of the pandemic, government has increased its borrowings and expenditure to implement various income-relief for households and businesses.

Some of the relief measures included temporary social grants for financially distressed households and loans from commercial banks that were offered to businesses at favourable terms.

Mashile says the loan was applied long time ago.

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