The European Union is set to pump R350-million into the eThekwini municipal coffers to help with the rejuvenation of five "potential economic activity areas" in the region.
The EU funding would complement the R6,8-billion which will be forked out by the city in an attempt to develop the inner city, the Southern Basin area, three townships in the north of Durban, Cato Manor and all the surrounding rural areas.
In terms of a deal entered into between the city and the EU last year, the projects should be completed in five years.
The total cost of the projects, which are in line with the city's Area Based Management Programme and are based on the local Integrated Development Plan, is estimated at R7,2-billion.
According to the plan, which was approved by the executive committee on Tuesday and is yet to be ratified by the full council, the projects have been conceived as a "quick-fix" solution to the "low economic growth and declining Unicity economy".
Deputy mayor Logie Naidoo, who is also chairman of the economic development and city enterprises committee, described the project as "one of the most important ones to be undertaken by the city".
He said that what it sought to do was, among other things, integrate communities in the townships and rural areas into the economic activity in the inner city.
This would develop the broader economic environment for the region as well as improve the lives of the residents in general.
Other concerns to the city are:
- A high incidence of crime;
- High and growing levels of poverty;
- Un-integrated and unsustainable delivery of local government services;
- High incidence of HIV/Aids and associated problems and a socially disintegrated and non-participating civil society.
In terms of the inner-city project, the idea is to create "a regenerated, responsive economy, which is a high quality, clean, orderly and well-functioning inner city".
The Cato Manor area is to be developed to such an extent that the potential private sector investment for this area would be realised.
The Southern Basin is to be improved so that there would be increased business reinvestment there.
The focus in the Inanda, Ntuzuma and KwaMashu townships (INK project) is on eradicating crime and other social factors such as drug abuse, as well as uplifting the economic activity in the region through improving the transport infrastructure and small business.