Infrastructure Development: Infrastructure and Development Bank

infrastructure development: This includes a special package of financial and institutional measures to boost construction and prioritize water infrastructure, roads and student accommodation through a more efficient use of budgeted money, the president said, according to Global Times China. The government has set aside 100 billion rand about 6.9 billion US dollars for the Infrastructure Fund announced by Ramaphosa in February. Our new approach to infrastructure development is based on stronger partnerships between the public and private sectors, and with local communities, Ramaphosa said while delivering his first State of the Nation Address SONA in Parliament since his re-election in May. We are working to institutionalize the fund, which will be managed by the Development Bank of Southern Africa, with the newly configured Department of Public Works and Infrastructure playing an oversight role, Ramaphosa said, adding the government has been doing this in consultation with private investors. The president said his government will also be working to attract more inflows of investment. These reforms will improve the planning and implementation of infrastructure projects, according to Ramaphosa, with the construction sector to be provided with a much-needed boost in particular. (news.financializer.com). As reported in the news.