South Africa: World Bank Approves Eskom Loan

source: allAfrica
Business Day (Johannesburg)
Siseko Njobeni and I-Net Bridge
9 April 2010

Johannesburg — The World Bank has thrown Eskom the lifeline it was so desperately seeking by approving a $3.75 billion loan to help South Africa secure its electricity supply.

The Bank said in a statement late yesterday that the loan – the Bank’s first major lending engagement with South Africa since the fall of apartheid 16 years ago – aimed to benefit the poor directly, through jobs created as the economy bounces back from the global financial crisis and through additional power capacity to expand access to electricity.

“The loan is provided to South Africa’s power utility, Eskom, and was brought about by unique circumstances including South Africa’s energy crisis of 2007 and early 2008, and the [continue reading]

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