INDEPENDENT NEWS

Cablegate: South Africa Response to Opic-Supported Investment

Published: Thu 21 Dec 2006 11:40 AM
VZCZCXRO1133
RR RUEHDU RUEHJO
DE RUEHSA #5095 3551140
ZNR UUUUU ZZH
R 211140Z DEC 06
FM AMEMBASSY PRETORIA
TO RUEHC/SECSTATE WASHDC 7389
INFO RUEHAM/AMEMBASSY AMMAN 0140
RUEHAK/AMEMBASSY ANKARA 0156
RUEHTN/AMCONSUL CAPE TOWN 3748
RUEHDU/AMCONSUL DURBAN 8428
RUEHIT/AMCONSUL ISTANBUL 0086
RUEHJO/AMCONSUL JOHANNESBURG 5923
UNCLAS PRETORIA 005095
SIPDIS
SIPDIS
PLEASE PASS TO OPIC FOR AMIE PATEL AND BILL PEARCE
E.O. 12958: N/A
TAGS: EINV OPIC SF
SUBJECT: SOUTH AFRICA RESPONSE TO OPIC-SUPPORTED INVESTMENT
FUND
REF: STATE 200494
1. Per request in reftel, post provides the following
comments regarding OPIC's proposed backing of Ethos Fund V.
-- Capital to build houses will improve the serious shortage
of low-income housing in South Africa and is compatible with
SAG's current housing policies.
-- Funds for housing are provided by other sources,
including SAG programs, charitable funds, and commercial
banks, many of which make use of USAID loan guarantee
programs. However, additional capital from other sources,
such as OPIC, are still necessary to help meet current
housing needs.
-- USAID officers are aware of the Ethos Fund, and do not
know of any problems associated with this Fund.
BOST
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