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R7bn allocated for Land Bank recapitalisation

The Land and Agricultural Development Bank of South Africa (Land Bank), which defaulted on its debt obligations on April 1, 2020, and is renegotiating it repayment terms, will receive R7-billion in recapitalisation over the medium term to put it on a stable and sustainable development path, the 2021 Budget, presented by Finance Minister Tito Mboweni on February 24, indicates.

Creamer Media: Bulbulia, T.: R7bn allocated for Land Bank recapitalisation, URL: https://www.engineeringnews.co.za/article/r7bn-allocated-for-land-bank-recapitalisation-2021-02-24/, Last seen: March 8, 2021
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