Cape Town - The City of Cape Town wants to raise a R2bn loan
from a French development bank to finance a range of its capital projects, it
was reported on Wednesday.
The Cape Times reported the loan, funded by L'Agence
Française de Développement, could be taken on condition that it be repaid over
15 years and have an interest rate fixed at 9%.
Deputy mayor Ian Neilson said the loan would be used over
the next two financial years for a range of capital projects such as water
services, roads, refuse collection and sewerage.
The mayoral committee agreed on Tuesday to recommend to the
city council that the loan be taken up.