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Eskom to get R20bn funding boost from Chinese bank

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Eskom acting CEO Johnny Dladla.
Eskom acting CEO Johnny Dladla.

Cape Town – Eskom will sign a $1.5bn (R19.78bn) loan agreement with China Development Bank on Thursday, as the state-owned utility powers ahead with its funding requirements for 2017.

Last week, new acting Eskom CEO Johnny Dladla revealed that Eskom had secured 77% of its funding requirements for the 2017/18 financial year.

He said that for the 2016/17 financial year, Eskom increased its borrowings by over R60bn.

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