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28.07.25 15:00

Economy

South Africa secures US$398 million loan from NDB for road infrastructure development

The loan will focus on upgrading key transportation routes, reducing congestion, and improving safety

South Africa has secured a R7 billion loan (US$398 million) from the New Development Bank (NDB) to support the modernisation of key national road corridors, as part of broader efforts to strengthen the country’s transport infrastructure and economic connectivity. This is reported by MENA, a partner of TV BRICS.

The funds will primarily be allocated to projects aimed at upgrading strategic transport routes such as the N2 and N3 corridors in KwaZulu-Natal, and the N1, which play a vital role in national and regional trade.

The government is undertaking a major overhaul of the rail network, backed by funding from the African Development Bank and the Development Bank of Southern Africa. A key priority is to rebalance the use of rail and road transport to reduce strain on highways and improve the resilience of the national logistics system.

The NDB, established by the BRICS nations (Brazil, Russia, India, China and South Africa), aims to mobilise resources for infrastructure and sustainable development in emerging economies.

Photo: iStock

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Ferdinand Marcos

President of the Republic of the Philippines

"First, peace, security and stability. [...] We need our joint efforts to contribute to peace and security and to respond promptly to all threats. Second, a more dynamic economic partnership. Our areas of cooperation in trade are developing. We need to act more ambitiously and decisively in order to facilitate trade, economic flows and the expansion of the business community. [...] And third, perhaps one of the most important areas, is our peoples, grants, student exchanges, academic partnerships and tourism. [...] The relationships that are being built between our countries are reflected in the summit declaration, and they provide what policy alone cannot achieve"

Anwar Ibrahim

Prime Minister of Malaysia

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Vladimir Putin

President of the Russian Federation

"This forum, which has brought together leading representatives of the business communities of our country and the ASEAN member states in the hospitable capital of Tatarstan, Kazan, is of particular importance. This year marks the 35th anniversary of Russia–ASEAN relations. During this period, we have accumulated substantial experience in multifaceted cooperation, established strong ties, including between the Association’s Business Advisory Council and the Russia–ASEAN Business Council, and created a solid foundation for the future"

Subrahmanyam Jaishankar

India’s External Affairs Minister

"As Chair, I thank each delegation for their presence and continued commitment to strengthening cooperation within the BRICS framework. […] Development issues remain central. Many countries continue to face challenges on energy, food, fertiliser and health security, as well as access to finances. BRICS can help them respond more effectively. Economic resilience is also key. Reliable supply chains and diversified markets are its essential components. We must focus on both"

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South Africa secures US$398 million loan from NDB for road infrastructure development

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