South Africa is set to receive a new $1 billion (or about R14.5 billion) loan from the New Development, or so-called ‘BRICS Bank’ to support the country’s economic recovery from Covid-19. Fin24 reports that the loan is the second provided by the NDB to help the country overcome the impact of the pandemic after it approved a $1 billion emergency loan in June 2020, and will be used to “finance [the] creation of employment opportunities” as part of the first phase of the Presidential Employment Stimulus.