# South Africa has signed an eight-billion-rand loan agreement with the Asian Infrastructure Investment Bank to strengthen climate-resilient urban services. National Treasury says the fund is specifically ring-fenced under a strict performance framework to upgrade urban systems against climate shocks such as floods or droughts, and improve basic service delivery. The Treasury added that local municipalities and metros often lack the credit ratings required to borrow large sums of foreign currency on their own. The government-guaranteed loan bridges this gap.
National Treasury, Asian bank sign R8bn loan to support sustainable infrastructure