Question NW924 to the Minister of International Relations and Cooperation
20 September 2019 - NW924
Bergman, Mr D to ask the Minister of International Relations and Cooperation
What amount has the African Renaissance Fund (ARF) loaned to Cuba to date, (b) on what terms, including interest and duration, was the loan made, (c) what amount of the loan (i) has been repaid and (ii) is still outstanding in terms of ( aa) money still to be loaned to Cuba and (bb) monies still repaid by Cuba and (d) does the ARF allow for loan initiatives to be made to countries outside the African continent?
Reply:
a) The loan amount was R 63 628 818.
b) The interest was charged at 3% daily compounded monthly, the repayment duration and term was 1 year. following the expiry of the availability period for tranch A in four equal quarterly payments.
c) A loan has been repaid in full with interest R 64 994 855.03
- R 64 994 855.03
- Nothing is outstanding
(aa) A concurrence has been issued for a total amount of R140 million
(bb) Nothing, as the loan has been repaid with interest
(d) Yes.