New hospitals, schools and homes thanks to CDP
CDP consolidates its role as Italian Financial Institution for Development Cooperation with a loan to the Development Bank of Southern Africa (DBSA) aimed at developing social infrastructure in the country.
Though being one of the most economically advanced nations on the continent, South Africa still suffers from strong delays in accessing health and education services, while the housing deficit is estimated at between 2.3 and 3.7 million housing units (of which 500,000 for students ).
CDP’s loan, amounting to €50 million, will contribute to the building of schools, hospitals and homes, so as to ensure treatment and training opportunities, as well as access to adequate housing. The projects, focused primarily on the most vulnerable sections of the population, will activate investments whose amount will reach approximately twice that of the loan’s total amount.
Collaboration with other development banks such as the South African DBSA leads to the consolidation of Italy's bilateral relations, the sharing of know-how and best practices, and the creation of new outlet markets for Italian enterprises.
The initiative will help reduce social inequalities and improve the living conditions of the most fragile populations, in line with the sustainable development goals set out in the United Nations’ 2030 Agenda and the Strategic Guidelines on International Cooperation.