South Africa’s Industrial Development Corporation and the Bank of China have signed a framework agreement that could unlock a R10-billion funding package over the next five years to support regional projects in energy, infrastructure, manufacturing, agriculture, and mining.said the agreement highlighted the bank’s resolution to partner with South Africa in sustainability, just energy transformation and other funding initiatives.
Meanwhile, a memorandum of understanding was also signed between the Department of Trade, Industry and Competition and the China Africa Development Fund , which has an equity investment fund managed by the China Development Bank.i, the MoU reportedly aimed to stimulate increased industrial investments from China into South Africa