After dodging a serious drought this year, Cape Town officials are taking serious preventative steps to stop it from happening again. German President Frank-Walter Steinmeier used his state visit to South Africa productively, and Cape Town seems to have benefited most from the strengthening of ties between the two countries.
Steinmeier met with Cape Town Mayor Dan Plato and Western Cape Premier Helen Zille on Tuesday, where the two parties signed off on a deal that would pump R1.3 billion into the provincial economy.
Terms and conditions of the Cape Town, Germany loan
The money pledged from German officials is actually a loan, that will be paid back over the next 15 years at a rate of just over 8.1%. It’s believed that all 25 water treatment plants in Cape Town – including Zandvliet and Gordon’s Bay – will be the beneficiaries.
Where the money will go
This loan will strictly be used to improve the water infrastructure that se
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