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Eskom sees 2010 World Bank loan decision

Nov 23, 2009 2:14 PM | By Reuters

Eskom expects the World Bank to make a decision on a loan programme of up to $5 billion in the first half of next year, a senior company official says.

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Photograph by: Mark Wessels.
Credit: © Mark Wessels.

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Earlier this month the World Bank said on its website that Eskom had applied for the initial 3 tranches of the loan, amounting to $3,75 billion, to fund projects at its Medupi power station as well as renewable energy and low-carbon energy efficiency programmes.

“The target is still $5 billion but at this stage our loan application thus far is $3,75 billion. The step that we are in at the moment is that the World Bank has published the loan application and they invite comments from stakeholders,” a senior Eskom official said on Monday.

“We would expect that the decision would be coming through, we hope in the first half of next year, but it still is a long time to go.”

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Nov 23 2009 02:42:26 PM
Emotion
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45% increase, 1 billion bailout + 5 billion - its bad real bad !!!
Nov 23 2009 03:44:41 PM
Gazu
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Emotions_ somebody has got to pay up for our energy needs in one way or the other. The government should have either open up Eskom to real competition as far back as the 1990s to avoid a $Billion investment costs or invested in nuclear energy in the 1990s. We didnt do any of those things; so we got to pay. Its not Maroga's fault.
Nov 23 2009 04:07:47 PM
Kribb
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Mabe the ANC should have listened to the experts and did the maintanance and upgrades required back in 1998 instead of calling them racists
Nov 23 2009 04:11:13 PM
feelgood
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@Emotion, Gazu is right there is nothing free and somebody has to pay for the electricity in SA. This problem is caused by the failure of the government to invest money in Eskoms ten years ago that led to this problem. The press in SA should have asking the government who was going to pay for the electricity.
Nov 23 2009 06:18:12 PM
Rockspider
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Hey assholes at ESKOM, go fetch the bloody 60 BILLION you wrote off by the black communities and municipalities as bad debt. Now YOU are screwed, bloody dumb asses
Nov 23 2009 06:19:17 PM
Rockspider
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No wonder all us engineers and scientist resigned.


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