He was addressing the media on the sidelines of the ninth annual general meeting of the NDB in Cape Town.

The main aim of the bank is to provide BRICS member states and other emerging markets with finance for infrastructure development.

The first loan was granted in 2016. All the loans granted so far amount to more than R100 billion.

Godongwana has explained why disbursement is sometimes slow:  “We have approval for the hydro project in Lesotho. Lesotho is not a member of NDB, but because the benefits of that project will provide water to SA, so we have been the applicant… To my knowledge, it’s not disbursed because no requisition from our side.”

Deputy President Paul Mashatile says government has undertaken key initiatives and reforms in an effort to create sustainable energy.

He spoke during the bank’s session that explored ways that member countries could share information on sustainable energy.

Mashatile says the initiatives include the unbundling of Eskom.

He says, “We are implementing an ambitious transmission expansion plan, including piloting Independent Power Transmission (IPT) projects and streamlining regulations to accelerate the development of transmission infrastructure. This initiative aims to unlock renewable energy potential in the Northern, Eastern, and Western Cape provinces. The aim is to connect new generation capacity to the grid.”

--SABC--