South Africa (SA) has signed a memorandum of understanding (MoU) with the New Development Bank (NDB) to attract more investment and support the country’s economic growth.

The bank has already put around one billion US Dollars into energy projects with Eskom and other development bodies, and it now plans to expand its involvement in SA’s key sectors.

Ashwani Muthoo, Director-General of the NDB’s Independent Evaluation Office, said the agreement would open the door to more funding for projects aimed at improving infrastructure, securing energy supply, and creating long-term economic opportunities.

“This MoU is an important step in strengthening our partnership with SA. We are committed to supporting projects that make a real difference to the country,” Muthoo said.

–ChannelAfrica–