The City of Johannesburg will on Tuesday seek council approval for billions of rand in loan funding from a German state-owned development bank.
Despite the money being sought for the next three financial years, if approved this loan would bind the municipality to a 15-year repayment plan.
This was revealed in council annexures, which this publication has seen, ahead of an extraordinary council meeting scheduled for Tuesday.
The council will be asked to approve and authorise the city to enter into the proposed 15-year loan agreement with Kreditanstalt fur Wiederaufbau (KFW) in the 2025/26, 2026/27 and 2027/28 financial years respectively.
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