JOHANNESBURG, May 13 (Reuters) - South Africa has secured a $150 million development policy loan from the OPEC Fund for International Development to support reforms aimed at easing infrastructure bottlenecks, its National Treasury said on Wednesday.
o The Treasury in a statement said that the loan agreement was the first between South Africa's government and the OPEC Fund.
o "The loan will support government's ongoing reform programme aimed at unlocking infrastructure bottlenecks, particularly in the energy and freight transport sectors," the statement said.
o It aligns with the Treasury's financing strategy, which seeks to diversify funding sources and minimise increases in debt-service costs.
o The Treasury said the financing has a six-year maturity with a two-year grace period and an interest rate of six-month Secured Overnight Financing Rate plus 1.25%.
(Reporting by Nilutpal Timsina;Editing by Alexander Winning)
