National Treasury invited proposals on “innovative and cost-efficient” ways to supplement the government’s foreign-currency borrowing programme in the current fiscal year.

The initiative is aimed at diversifying funding sources beyond traditional eurobonds and reducing the cost of funding, the Treasury said in a statement on Friday.

It requested proposals from primary dealers in the nation’s debt securities, along with banks, multilateral institutions and institutional investors.

South Africa’s government proposed raising R98.9-billion in foreign loans in the year through March 2026. That amount decreases to R80-billion the next fiscal year and R96-billion in 2027-28.

The Treasury will consider a range of instruments, including bilateral term loans, private placements of floating rate notes, repurchase agreements against sovereign collateral and cross-currency swaps, according to the statement.

The deadline for proposals is August 6, with the evaluation window set to end August 29, it said.