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Maseru
July 18, 2024
Development

BRICS SUPPORTS LHWP

Maseru, Aug.26—The New Development Bank (NDB), which was established by the BRICS countries and the Trans-Caledon Tunnel Authority (TCTA) have signed a loan agreement for the implementation of phase II of the Lesotho Highlands Water Project (LHWP). 

This is according to a statement by TCTA.

The NDB will provide a project loan of M3.2 billion (USD 173 million) to TCTA under the sovereign guarantee of South Africa.

The LHWP is a multi-phased project to provide water to the Gauteng region of South Africa and to generate hydroelectricity for Lesotho. 

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