South Africa has signed a $1.5 billion loan from the World Bank's International Bank for Reconstruction and Development (IBRD) to fund reforms targeting long-standing weaknesses in electricity supply, freight transport, and water and sanitation services. The financing — the fourth such Development Policy Loan extended to South Africa since 2022 — is expected to help generate nearly 600,000 jobs, primarily through improvements in power generation and freight logistics. Combined with funding from other multilateral lenders, the loan allows Pretoria to meet its full 2026/27 foreign currency borrowing requirement of $3.2 billion, with the National Treasury noting it carries favourable interest rates and flexible repayment terms.