Posted 10/14/2023, 9:07:43 AM
World Bank May Provide $1 Billion Loan to Help South Africa Address Power Crisis and Transition Away from Coal
- World Bank may provide $1 billion loan to South Africa to reform energy sector and address power crisis
- Loan would support transmission infrastructure and help transition away from coal
- Comes as South Africa faces worst power cuts in history due to aging coal plants
- World Bank approved $497 million in 2022 to decommission a coal plant in South Africa
- Loan conditional on South Africa not taking on new Eskom debt for 3 years without approval
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