No plan B for Eskom loan

2010-04-06 16:06

Should Eskom fail to get a loan from the World Bank, there was “no

plan B”, Energy Minister Dipuo Peters has confirmed.

Peters said all South Africans should support the granting of this

loan because “25 percent of people are still waiting to have access to basic

minimum electricity”.

Speaking after a round-table discussion with Business Unity SA

(Busa) today, Peters said she could not shed any light on how the World Bank

members would vote.

The British government is reportedly under pressure to block South

Africa’s efforts to secure a $3.7 billion loan from the World Bank to construct

the coal-fired Medupi power station.

Joining Peters at today’s news briefing, Busa chairman Raymond

Parsons said it was already on record as supporting the World Bank loan. “It’s

part of Eskom’s broader borrowing programme. Eskom has already obtained a loan

from the African Development Bank,” Parsons said.

“The World Bank loan at this stage is essential, and we must

remember that the security and expansion of electrical power is a pro-poor

mechanism ... We must see it that way.”

The World Bank was due to give its verdict on the loan on


Turning to questions about the ANC’s involvement in the building of

the Medupi power station through its 25?percent stake in Hitachi Africa via

Chancellor House, Peters said the issue should be addressed by the treasury

general of the ruling party.

Join the conversation! encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.