Midrand, - Development Bank of Southern Africa (DBSA) today signed a R90 million long term loan facility to help the Durban University of Technology (DUT) to construct a new student village on campus.
This new student village will create an additional 804 student beds, which will enable DUT to relocate students living off campus.
The shortage of appropriate and affordable student accommodation at the 22 contact universities in South Africa has become a significant problem. The current backlog of student accommodation is estimated to be 195 815 at a total cost of R82 billion. Supporting universities and other further education and training colleges to deliver social infrastructure, in the form of student accommodation remains an important focus area for the DBSA. This intervention will accelerate the provision of quality and affordable higher education as a fundamental building block for the growth path of SA.
The Group Executive for South Africa Financing Division at the DBSA, Mr. TP Nchocho said this facility forms part of the Bank’s strategy to modernize the administrative and learning facilities as well as addressing significant backlogs in student accommodation at many contact universities in the country.
“We are pleased to be part of this intervention, which signifies the Bank’s commitment to addressing on-campus student accommodation at our Universities where only 20% of students are housed in secure, decent accommodation within walking distance to lecture halls and libraries”, said Nchocho.
Issued by the Development Bank of Southern Africa For More Information Contact Name: Jacky Mashapu Cell-phone: 061 037 3890
Notes for Editors "About Development Bank of Southern Africa” The Development Bank is a leading Development Finance Institution (DFI) in Africa South of the Sahara, playing the roles of Financier, Advisor, Partner, Implementer and Integrator. The Bank maximizes its contribution to sustainable development in the region by mobilising financial, knowledge and human resources to support Government and other development role-players in improving the quality of life of people in the region through funding infrastructure projects; accelerating the sustainable reduction of poverty and inequity; and promoting broad-based economic growth and regional economic integration.