“The World Bank budget support is coming at a critical time for us,” Dondo Mogajane, the director-general of the National Treasury, said in a statement.The World Bank has approved a Covid-19 linked $750m development policy loan to SA to protect the poor and support economic recovery from the pandemic, a statement from the National Treasury said on Friday.
The country has been hit hard by four waves of infection that killed close to 94,000 people and infected 3.5-million in Africa's worst caseload. Successive lockdowns meant to protect people have led to the closure of thousands of businesses, swelling an army of unemployed as SA's jobless rate hit records in 2021.
“The World Bank budget support is coming at a critical time for us,” Dondo Mogajane, the director-general of the National Treasury, said in a statement. Funds from the development policy loan would help bridge a financing gap stemming from additional spending on the Covid-19 crisis, he said.
The only economy it will boost is the French Riviera or South of France where leadership will retire with their billions whilst compadres at home suffer.
In other words its the end of the pandemic.
I hope the World Bank know that MYANC has NO mandate from its citizens to borrow ANY funds, they're doing it for themselves...do WorldBank even know that they don't even pay their employers🤔
Y ain't u cancelled yet..? U are captured .. u Shud Write 'after Rama-ya-di-potsa misused the 1st Covid Relief Funds Rama-ya-di-potsa and his cabinet has sold SA to World Bank and CO once again to secure another funding for CR22..'
500 billion failed
The day when you run out of other people's money...unsustainable
Hah! 😂🤣🤣
What happened to the R500 Billion set aside for PPE’s? LOOTED, LOOTED. Taxpayers’ money. Now, this amount. Ready, steady, Go for it. Such a lot of lolly. Hungry hyenas.
Yasses they can talk kak!! MPs are mos struggling 🤔 pugs lining up to chow
Bullshit. It's going to buy votes at the December elective conference
l swear l've seen this movie before🤨
So a special for Cyrils Aces, Fukiles and Zumas
The money will go to the usual suspects.
Poor poor voetsek ANC y'all creating this mess and use poor to enrich yourselves.
Is going to the pockets of comrades not the poor
Another loan yhooooo🙃🙃🙃🙃🙃
Typical sunday slimes trying to peddle their bullshit. Everyone in this country knows better and where the money will end up.
Can we have a list of these 'poor' people who are to be 'supported' CyrilRamaphosa ? We want to see something. Or is that list like CR17BankStatements ?
What bollocks we all know it will be stolen VoetsekANC
The only way to protect the poor is by investing those billion to create jobs; the poor need jobs. Money can create job. Is it hard to get it? Just admit you don't have any idea on how to create more jobs
Under Ramaphosa the ANC has become a party of analysts and professors. It has forgotten voters and his administration has become an agent of investor looting of the country
They still haven't accounted for 500 billion, they are already planning on how to steal this one. Hospitals & Schools are delapidated, unemployment increases every day and roads are a mess Newdawn
“Protect the poor” is cadre code language for “its showtime!”
Hey diddle diddle The cat stole the fiddle The cows got slaughtered too soon The little dogs laughed to see such fun And the dish got cleaned out by the spoon.
How will the poor be protected this time around?
🤣🤣🤣🤣🤣🤣🤣
CyrilRamaphosa’s MYANC comrades be like “WOOHOOO…..!!” Let the stealing restart….
More like replenish the ANC feeding troughs the poor will never benefit SA is the epitome of Corruption VoetsekEFF VoetsekANC
ABSOLUTE BULLSHIT ! It's nothing more than PLANNED THEFT.
Funny we have gold, platinum and the land yet we borrow like we have nothing 🤭🤭🤭
and media in general - what a disgrace your profession has become
Ramaphosa deserves a second term
What fokken bullkak is this?
What a fucking joke
April Fool coming early
Bwhahahahaha, so the ministers can drive in luxury cars to the squatter camps🤣🤣🤣🤣🤡🌍
Straight to the anc pockets. Corruption
If you can understand the minsmdset of the ANC, there is no way they will aloow the money to pass through without they digging their hands in it.
Macomrade ba jabulile
Pkease explain how it will dispensed, can we see accountablilty, ?
No it’s for this thieving government/ANC to steal as usual
That's a blue lie.
Protecting the poor my arse, the corrupt mafia ruling party stole billions and in return fucked your country up in the process. Politicians get paid to move their lips by spewing bs and false promises. Ever seen a South African flag at any of their rallies? I rest my case.
Another loan. Wuu this useless government.
The only protection we need is from MYANC VoetsekANC
Senziwa impatha 500 billion yanyamalala Cuba doctors akwaziwa ukuthi bebasebenzs which hospitals
That loanmonry is long gone ..into their pockets ..these cadres are multi millionaires..they and their family are det for life .. No recovery plan for the poorest of the poor ..we will still suffer ..under these looters and stealers ..they have a plan only for themselves ..
Protecting the poor by giving them parcel which you steal to give your friends and relatives. This R11.5 billion is a scam to enrich themselves.
So far there is no evidence that this is the truth, spin something new.
M not suprised, the ANC conference is here, they want to buy delegates 🤞😡
The loan is WHAT? Is this a comedy page now?
Protect the poor? From what?! Losing their baby grants?!
My Fok? When will the World bank ever learn? Never give a loan to the ANC government? It's guaranteed that they won't use that money on the poor? Corruption will be the beneficiary
SA le pokola 🤞🏽
JvanLogg The loan is intended for and where the money will go are two entirely different things. The MYANC have shown us this every time.
The money is to feed the 5 million Zimbabweans
Nonsense, we not fools
Mbaks uyasho nje “yafika imali yethu”
It’s for buying conference votes
I guess the 500bn was not enough 😕
ANC yenza sure uba ithi iphuma ibe ishiye ityala elikhulu.
Protect poor from what because no poor person is going to get cent from that money..
It's the price we have to pay for electing crooks. They've stolen everything and now have to borrow to keep paying a bloated civil service and the grants to quite the masses. The whole thing is about to collapse. The day the grants stop is the day we will elect true leadership.
Disgusting!!
You know your country is fcked, when government has to borrow money to steal 🤦♂️
Mxm.
These loans are they not meant to be discussed with the public first, like public hearing or something?
😂😂😂😂
Corruption start when you do a loan in the name of the innocent people,
Lol... How? Don't lie it's meant for looting, few months from now you won't have anything to show of it
Protecting the poor from anc!
What a load of shit!!!!!!!!.You talking kak.ANCParliament cadres will eat this money.The poor will see nothing of it.
To protect the poor ANC he meant
South Africans: we can use this money to -... ANC:
This is already too much, worse it's goin to be looted
Tsek, protect the poor ya masepa.
More stolen funds. More investigations. And then another loan
Poor Ke bo mang ? Why do the poor need protection and not employment or to own businesses? Who said ppl need protection from covid ? Save a person from covid only to die of hunger and depression from unemployment?
Just in time to pay ANC salaries
Certainly 🤔
What day is it?VoetsekANC
Let's not be fooled, this Government don't care or even think about the poor
Yeah right. Don’t trust nor believe you
Yeah right, like the 500bn which they still cant answer for?
Instead of the government making sure they recover the money stolen from the ANC thieves they go burden us with more loans . Was this even necessary?
So its a debt on top of a debt or the previous debts were paid?
For fucksakes.....taxes are gonna go up for these guys to line up their own pockets with borrowed money....why are these people like this.
In three months there will be a commission of inquiry to find out what happenef to the money.
They must return that money as it is. After 2024 we must apprehend all ANC people for selling this country
Haybo, this gov continues to ask for loans for what? ANCriminals and ANCrooks need money asap, this they do for to loot. How many poor people will be shielded from what? Ezi kaka maziyeke ukutya imali ezakubhatalwa ngabahlawuli be tax (taxpayers).
*whoosh* It's looted
Magic trick loading.... disappearing money
We all know it's blatant lies
ANC couldn't care a sh-t for the poor or economic recovery. It'll all be for some fat cats pockets & bolstering ANC coffers, again. 🙄😠
BULLHIT, its to pay there people. Is thats what they call economic recovery.....
Sowetan is covering up all the positive stories about Anc,but the fact that NxesiThulas was no where to be found when companies and some government departments where employing immegrants illegally, didn't say anything about it. Do you think what I'm thinking? 🤦🏽♂️South Africa
Its for 'covid' because the ANC cadres need to drive Lamborghinis during this epidemic.
That money is going to be stolen by white companies
👀👀👀👀👀👀👀
It is going stryt in ANC corrupt politicians
'The loan is intended to protect the poor and support economic recovery from Government response to the Covid-19 pandemic.' - I fixed it for you. Anyone who actually believes this is an absolute moron.
😂
I think it is meant to support the 'poor' politicians and their bankrupt party😠
VoetsekANC It's actually to protect the MYANC from the poor VoetsekANC again
Ha.. Ha... Ha..
Protect them from what whilst foods, electric,petrol, unemployment and funeral cover r up🤔
Whoever's going to inherit MYANC government will have though job fixing all this mesd.
this is bullshit
Bull
These loans are very detrimental to the economy.
But how debt on debt, how will that help the economy? Ucele kubani vele
They digging a bigger hole.
Simply b🐂llsh💩t/tr🐖tters! And this publication, again, seem to have failed the people of SA by not questioning why is this money being 'taken', why are we further being made into economic 'dependent slaves' and which 'poor people' are 'directly' benefiting from this 'loan'?
I say 2weeks and it will disappear
Who will be paying the World Bank loan back again?
with all the huge loans that govt has to repay along with eskom debt we may end up not having an economy to try and recover. Government already spends more than R 1billion per day just on interest alone. Is this not reckless lending by the world Bank?
.. and like all previous foreign aid, 0.000000000001% will go to the intended recipients, and the remainder will go DIRECTLY into anc self enrichment corruption gravy train, and the anc corruption connected few's POCKETS as 'Administration fees'
Protect the poor? How? Another Covid-19 looting spree! Ave nisenza izilima kodwa.🤬🤬🤬
What a bullshit statement. Sure the poor feel very 'protected' right. 😂😂😂
The loan is intended to backpay ANC salaries from the incompetence pandemic. Fixed it for you
How will this loan protect me?
Right
😔I foresee corruption 🥺🥺
kabelodick Do whatever guys y'all protected. We will protect those whi come after you
The Chines are already knocking at the treasury door regarding their loans and they are not smiling.
They've been taking loans and crying on TV left and right since the introduction of this Covid scam. I'm sure Satafrika's 'credit score' is 61 currently.
The ANCParliament criminals will steal 90% of this loan the WorldBank have no idea just how hard they are making it for the young and fragile in SA in years to come. The ANCParliament are known thieves WorldBankAfrica
ANC already sold SA to China. Shit is coming.
Poor ANC cadres 😉
Lol
It's big lie...
Why can't Rupert borrow the government money
😂😂😂😂
Boy🙆🏾♂️
It’ll be gone before it reaches intended use.
Oh my fuck here comes the new luxury cars and palaces
Njani?
Is intended to support the ministers not the poor. 😡
This money will not do what it is supposed to do, they are going to steal this money like they did with R500 billion.
Stop with the lies 🤥🤥 Since when does government give a hoot about the poor?
Looking at the 60 million poor people in South Africa it's obvious that as per the past 20 years only the anc structures will benefit ,
the loan is intended to enrich them and their families
This will be the first loan that helps poor people in all of human history.
Yazi Niyasinyela kahle kahle nina!!😠😠😠
Should have said 'the loan is for comrades to prepare their pockets for the elective conference in December'
“Protect the poor” like Zweli Mkhize protected the poor by giving a contract to Digital Vibes
Get unlimited shopping discounts in your favorite stores with Varsity vibe for just being a student how great Link
They keep feeding ramaphosa and his cadres with billions to chow and leave the country drowning in debts sies🚮
Protect the poor?
This one told vojrg that public servants do not deserve increase and that matter was debated more than seven months ago no judgement until today, then you tell us constitutional court is working, look at Makete with vodacom, House Negros are useless there at constitutional court
MYANC come guys time to chow more money...
The loan is for ANC cadre pockets
What happened to R500 Billion
To you it's a loan but it's not a loan it's a HAND-SHAKE
Fakhin shidi abaybuyisele asiyfuni!
LingodeKaNdabaa Siyanyelwa straight!
Is already gone, it is used for preparation of their coming conference. We are finishooo 😭😭😭
Where is R 500 billion
R350 grant continues?
That loan is for Cyril and his white friends.
Which poor? These people think we are stupid.
If this money ever makes it into SA, by end of this year 90% of it would have returned back to Western institutions as illicit financial outflow and SA would still owe the R11bn rand.
All I can say is that it's also January for the comrades and they are hungry
They are going to pay the salaries to ANC staffers
Can kiss that one goodbye. Never ending looters must be ecstatic.
1 million per person and yal will still have change to chow. veemaranth LuciaDrops
' protect the poor'
All the know is how to steal from the poor!
The looting continues...MYANC criminals will finish this money in one week
Who will pay this money?
Another DISASTER 😔😔😔😔😔. How will we ever achieve Economic Independence if we keep borrowing and borrowing? This is not SUSTAINABLE😔!!!!!!!
I have a Kweshin, How exactly is it ment to protect the poor?
Our gvt in almost 4 years has taken more loans that in the alleged 9 wasted years, who is fooling who? By the time we wake up this country will be owing everywhere and the surety used is the future of our future generations to come. But we we fighting for crumbs weakminds
Are you going to give the princely sum of R 30pm extra to the Sassa grants like you did last year CyrilRamaphosa ?
La gafa, such thing won't happen, u failed to protect them with initial loans u borrowed... Why now?
Our businesses never got assistance from government, no matter how compliant they are but companies registered in January 2021 got assistance. Being successful in SA is about who you know
This is a loan that’s needs to be paid BACK! So if any one loots it, they should be dealt with swiftly and effectively
MYANC thinks we are stupid, WHAT WILL THEY DO FOR THE POOR THAT THEY COULD NOT ACHIEVE IN 30YRS WITH A WORLD BANK LOAN? It's all going into the pocket of cadres and we the stupid tax paying citizens will have to settle that loan.
Wow they're rich again
Digivibes, Andile Ramaphosa and Zweli Mkhize must be thrilled to hear this
South africa in short. New dawn my 🦶
Really again after the first one got stolen?
Here comes the loot, let's gather comrades
R500billion?
Wtf do they understand that such monies are stolen
Note the operative word here being 'intended'
Until it get's stolen and misused.
Its for CR17 campaign
How is it going to protect the poor.
More like to protect their pockets since they are not sure they will be in power come 2024.
They going to use it for themselves and ANC salaries
Now this is proof that once you start at Mashonisa you will never stop 😔
Protect the poor from what exactly.
We the poor did not ask the government to take any loan on our behalf🤷🏽♂️. All the government had to do was to recover all the looted monies. The monies looted in South Africa since 1994 amounts up to trillions of rands!
Now everything is politically shame poor is going to be poor until amen rich people are going to be richer and richest until amen each and every politician they take advantage using covid-19 as nice way to do their dirty jobs .
For what now? This money will never reach our hands. Our kids will find the burned, indebted, civil war ravaged country if ANC is is till in power in the next 10 years. We must save SA for the sake of our kids.
No Covid money ever used on poor...
The poor will be lucky if they see 1% of that money in whatever way it is meant to be used to “protect” them.
Of course it is how could we even think of it being used for anything else 😂😂😂
This money will be funnelled to brown envelopes in the upcoming ANC elective conference in December. The idiots (us) will pay it back and leave the debt to our children. I hate it here.
Who ever signed the loan papers must pay it back fuck no am I paying it. Watch keep this shit up and we gonna have people abstain from paying tax.
Translation: 'Because Parliament is burnt and the cost to rebuild totals over R1billion, this money is going to be used for that and the rest we'll split amongst ourselves' These people don't care about the poor! DFKM! 🤭🤭🤭
Really?
I know exactly what they mean they say this. These people are filthy rich now, all in the name of 'protecting the poor'.
We're being lied to here. This money is intended to be used to bribe us with the conference around the corner and 2024 imminent. Half of it will be going into their pockets. We've seen this movie before.
I'm tired of this. The country is going through a lot. People died due to HIV and no one cared
HardusValentine Yeah except it just adds to our debt burden. Meaning the middle class will be under more pressure while in reality this loan will be used to continue propping the executive up.
Really, singing the same song, that money is going to dissappear
Which covid 19 pandemic? This is just an ANC cover up, they are broke they need money to fund their presidential campaigns
😂😂😂😂😂😂😂😂
The only thing left now is for major lenders to change the name of this country because there's no more SA, it's people are also on loan, this country is finished, SOLD to the biggest bidders mxm hay siyathengiswa apha
Oh BS,just more for you lot to steal VoetsekANC VoetsekANC VoetsekANC VoetsekANC VoetsekANC VoetsekANC VoetsekANC VoetsekANC VoetsekANC VoetsekANC
Shame on these ones, shame shame shame
More opportunity for the ANC to steal.
Ironically is that the same amount Sasria needs to meet the Durban riot claims? By the what happened to the near trillion sasria once had in reserve
Our SOEs are being sold here
WorldBank don't you guys check credit score when loaning countries money?
Yeah. He really means loaning money for the welfare state to keep on bribing the poor. It's an illusion government needs pay salaries, their medical aids, pension funds. The majority of the loan will never see the poor or struggling. And how on earth can SA pay it back
PooPeople_2021 Didn't we receive 500b?
Blue lie loans never help the poor it makes them poorer the loans are a curse to the poor. The rich get richer the ruling class enjoy the loans at the expense of the poor
This money is just for them. The poor and companies that lost a lot won’t see any cent of it. It will disappear like that 500billion
LIES‼️‼️‼️‼️
Stop lying
So we borrowed money to pay R350
You have to Stand Up for yourself, No one is gonna be with you on the way to Success because the path of Success is very hard and only few can go over it. I earned over R350,000 thanks to Lisaberry76
That's what you ou said the last time and 500 billion disappeared, loans everywhere IMF now works bank, this country will attached one day
Lord 🙆♂️🙆♂️
Feeding frenzy for ANC criminals
Whose account was it paid into
MangenaMhamba 🤣🤣🤣🤣🤣😂😂🤣🤣 Ya neh! We are led by crooks and idiots. Whoever is going take over from the ANC in 2024 will inherit a huge debt and a dysfunctional state.
which will be misused, misappropriated, looted etc. & then we'll have to pay more for everything, & foot the bill...This is what happens when a president & a Gvt put the party first instead of the country, power & greed ahead of decency & humility, & politics above people!
Great now we can afford more booster shots to fight Omicron. 😐
Hey stop this covid nonsense nina maahn yeer😢uhlukumeza abantu oluhlobo,How many billions are you guys going to be bribed with?We all know those loans are not for good but to fund all role players of this nonsense covid to mislead and recapture of SA by Rothschilds family tsek!
Niyawa thanda amashonisa sa government Hai suka
Let’s see how long it takes for them to plunder all of it and not help those who need it. corruption
This money is gonna be Cadre deployed.
I hope it won’t be looted!
The intention is to chain our country sovereignty to US backed monetary institution,in short our children will have no country to control
Khongi’s people will chaw that R11 billion within 14 days... this money is not for the poor.
We get deeper & deeper into debts. How to protect the poor, give them hangouts in preparation for 2024 gelect R350 is money loaned from world bank? How about changing the education system? 12 years of useless schooling. Let's change that. Ask How?
Mxm
This is going to be eaten by the fat and the poor will see nothing ... EatTheRich
R350
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.