CAPE TOWN, South Africa, Sep 05 (IPS) - The Role of the New Development Bank in Monitoring Project Impacts on Communities

The 15th BRICS Summit held in Johannesburg, South Africa this month has once again put the spotlight on the Lesotho Highlands Water Project (LHWP) as a shining example of multilateralism and the New Development Bank’s (NDB)commitment to financing sustainable development projects within BRICS countries and other developing countries. During the 2023 BRICS Summit, the New Development Bank and the Trans-Caledon Tunnel Authority (TCTA) signed a 3.2 billion Rands loan agreement for the implementation of Phase Two of the Lesotho Highlands Water Project (LHWP) in Lesotho. This funding complements contributions by other financiers, notably the African Development Bank (AfDB) and the Development Bank of Southern Africa (DBSA).

Read the full story, “NDB Spotlight: The Lesotho Highlands Water Project Who Benefits?”, on globalissues.org →