The MK party says it is because of Zuma that the South African got the loan from BRICS Bank (NDB). Getty image
(The Post News)- The uMkhonto weSizwe (MK) party welcomed and appreciated the R17.8 billion (US$1 billion) loan given to the South African government by the New Development Bank (NDB), BRICS Bank, to develop water and sanitation infrastructure and said it is through President Jacob Zuma that South Africa secured the loan.
The National Treasury announced over the weekend that the NDB had approved a loan to South Africa. The R17.8 billion is for financing water and sanitation infrastructure development.
Additionally, they announced the extension of an R5-billion loan agreement with Transnet.
The party states South Africa achieved these relations because Zuma made the correct political decision to join BRIC in 2010, and it was part of building an alternate and fair world system free from the West’s neo-colonial and neo-liberal control and micromanagement.
Nhlamulo Ndlhela, MK Party spokesperson, believes South Africa will continue to benefit from the partnerships that Zuma established during his time as president.
Ndlhela expressed his full support for the NDB’s R17 billion loan and the allocation of an additional R5 billion to Transnet.
He said such a loan would not come with the neo-liberal and neo-colonial conditionalities that always accompany loans from the World Bank and the International Monetary Fund.
Ndlhela stated that despite much distortion and propaganda by imperialist minions and their domestic collaborators, President Zuma is a visionary who built the most effective infrastructure during his term as South African President.
“President Jacob Zuma knew that our country’s prosperity lay in building mutually beneficial partnerships with developed countries of the world such as Brazil, Russia, India, and China. South Africa is now beginning to reap the benefits of our BRICS membership,” said Ndlhela.
Finance Minister Enoch Godongwana confirmed the loan, stating that more detailed plans for the infrastructure development and funding will be presented in the Medium-Term Budget Policy Statement in October.
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