R19-billion World Bank loan to tackle power crisis

is in talks about a potential US$1-billion loan to help South Africa reform its energy sector, a bank official said, as the country tries to overcome record power cuts that have crippled the economy.

South Africa is facing its worst power crisis, with Eskom’s ageing, coal-fired plants often breaking down. Rolling power cuts have crimped economic growth, while fuelling private investment in renewable energy. In February, government agreed to take on more than R254-billion of Eskom’s debt through a debt relief scheme, subject to conditions.

Energy Energy Latest News, Energy Energy Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

World Bank discussing $1 bln loan to South AfricaThe World Bank is discussing a potential $1 billion loan to South Africa's government to help it reform its energy sector, a bank official told Reuters, as the country tries to overcome record power cuts that have crippled the economy.
Source: ReutersAfrica - 🏆 31. / 53 Read more »