World Bank loan: Treasury tells MPs no conditions attached

Johannesburg – Treasury has reiterated that the recently secured R11-billion World Bank loan comes with no conditions.

It said the loan is small compared to its plans to raise R630-billion this financial year.

Members of Parliament quizzed Finance Minister Enoch Godongwana and his team on the cost of the loan, the conditions attached and how it will be spent.

Godongwana said South Africa acquired the loan at a rate of 3% points lower than the market had offered.

Treasury Director-General Dondo Mogojane said the bank issued the loan because of the country’s economic recovery efforts so far.

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