Umkhonto weSizwe has hailed former state president Jacob Zuma’s legacy in relation to the Brics bank, saying he has saved future generations from total control of the World Bank and IMF by redirecting South Africa towards the New Development Bank (NDB).
The MK Party made the statement in response to the news that the Brics bank had given the South African government a R17.86 billion loan to develop water and sanitation infrastructure, as well as an additional R5 billion loan to Transnet.
“We appreciate and welcome the loan from the BRICS Bank because we know that such a loan will not come with neo-liberal and neo-colonial conditionalities that always accompany loans from the World Bank and International Monetary Fund [IMF]. We appreciate and welcome the loan from the BRICS Bank because, it is President Jacob Zuma who took the correct political decision to join BRIC in 2010.
“This was part of building an alternate and fair world system free from the West’s neo-colonial and neo-liberal control and micromanagement. It was in 2010 under the visionary leadership of President Zuma that BRIC (Brazil, Russia, India, and China) became BRICS through the addition of South Africa,” said the MK Party.
RELATED STORY: Finance Minister Godongwana welcomes R5 billion NDB loan.
At the time, Zuma had said that his vision was to build responsive, inclusive and collective solutions to the world economic challenges, which now appears to be bearing fruit.
Speaking at the launch of the New Development Bank’s first regional office in Johannesburg, back in August 2017, the former president said: “The idea of establishing a new Bank with a new mission and orientation was first discussed in Durban in 2013, when we had the honour of hosting the BRICS forum.”
It was then agreed by all Brics Member States to establish a centre in Africa to take care of the important developmental needs of this continent.
“BRICS and the New Development Bank should benefit not only BRICS countries, but should also benefit the whole of Africa and the developing world as a whole,” Zuma said.
The MK Party insisted that Zuma is a visionary who delivered the most impactful infrastructure during his tenure as President of South Africa.
“President Zuma built international and global partnerships which continue to and will benefit the people of South Africa forever, it said, adding that the country is now beginning to reap the benefits of BRICS participation.
1 Comment
Pingback: NDB support for global south countries set to increase - Sociopolitical Discourse Agency