The Treasury says it will take up a $1bn (about R19bn) loan from the New Development Bank (NDB) - formerly known as the Brics Development Bank - to fight the Covid-19 pandemic.
It is expected to borrow another $1bn later this year to help stimulate the economy after the downturn caused by the pandemic and lockdown.
WATCH | SA to borrow R19bn from Brics bank to help fight Covid-19
The Treasury says it will take up a $1bn (about R19bn) loan from the New Development Bank (NDB) - formerly known as the Brics Development Bank - to fight the Covid-19 pandemic.
It is expected to borrow another $1bn later this year to help stimulate the economy after the downturn caused by the pandemic and lockdown.
The latest Covid-19 coronavirus coverage
SA would be the second Brics country to tap the emergency assistance programme after China borrowed $1bn in March.
Here is everything you need to know about the loan.
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