What is World Bank?
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects.
World Bank South Africa Contact Detail
Website: http://www.worldbank.org/afr/za(link is external)
Postal Address: PO Box 12629, HATFIELD, 0028
Street Address: 442 Rodericks Road, LYNWOOD
Phone: 012 348 8895
Fax: 012 348 1720,012 348 1727
What does the World Bank do in South Africa?
Since joining the World Bank in 1945, South Africa has accepted fifteen separate loans from the World Bank to fund a broad spectrum of national development projects ranging from energy, agriculture, finance, trade, sanitation, and more.
Of those 15 loans, all but two have been closed, with remaining repayments still outstanding for nearly 5 billion USD in original principal.
The remaining loans are primarily directed toward power supply and energy security to support economic growth targets and support South Africa’s long-term carbon mitigation strategy.
The nationally owned power utility Eskom is responsible for this infrastructural development and has received the majority of the disbursements from active project loans.
What services does the World Bank offer?
We provide low-interest loans, zero to low-interest credits, and grants to developing countries.
These support a wide array of investments in such areas as education, health, public administration, infrastructure, financial and private sector development, agriculture, and environmental and natural resource management.
How does the World Bank grant loans?
The Bank borrows the money it lends. It has good credit because it has large, well-managed financial reserves.
This means it can borrow money at low-interest rates from capital markets all over the world to then lend money to developing countries on very favorable terms.