The bank wants to support the country's reforms to split struggling power firm Eskom and to transition to a low carbon economy, it said in a statement.last monthIn Wednesday's statement, Marie-Nelly said reforms the government had launched would "benefit the people of South Africa - particularly the most vulnerable households - the economy, the environment, and advance the energy transition".
The World Bank logo is seen at the 2023 Spring Meetings of the World Bank Group and the International Monetary Fund in Washington, U.S., April 13, 2023. REUTERS/Elizabeth Frantz/File PhotoSeveral plants breached government emissions regulations earlier this year, according toThe World Bank said its Development Policy Loan would contribute to a gradual reduction in water and air pollution by reducing the reliance on coal for power generation.
South Africa's government pledged to split Eskom into three subsidiaries - transmission, generation and distribution - in 2019. In February, it agreed to take on 254 billion rand of Eskom's debt, more than half its total debt, which was at risk of default.Our Standards: