Government through the Ministry of Finance has commenced processes for the 2021 International Capital Market, ICM Funding Programme.
The five billion Dollar funding under the programme, when finalised, will be used to support growth-oriented expenditures in the 2021 budget and to conduct liability management of both domestic bonds and Eurobonds.
In a statement, the Ministry of Finance explained that Government is in the process of mandating Bank of America, Citi Bank, Rand Merchant Bank, Standard Chartered Bank and Standard Bank as Lead Managers under the Programme.
Instruments under the ICM Programme consist of Eurobonds, Diaspora Bonds, Sustainable Bonds, and Syndicated or Bridge Loans.