Development Bank seeks loans to plug funding gap

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The development bank needs the extra financing to keep disbursing loans. Picture: iStock
The development bank needs the extra financing to keep disbursing loans. Picture: iStock

The Development Bank of Southern Africa is in talks with multilateral lenders and commercial banks to help plug a funding gap as disruptions in debt capital markets hinder its ability to sell bonds.

The bank needs the extra financing to keep disbursing loans as demand jumps from countries trying to cope with the fallout from the coronavirus pandemic, the bank’s chief executive Patrick Dlamini said.

Potential lenders include the African Development Bank, the New Development Bank and French Development Agency, he said, without naming the commercial entities.

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