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.
