NGOs Criticise World Bank Loan to Eskom
The World Bank has defended its proposed R29 billion loan to Eskom amid growing criticism from environmental groups and NGOs.
The NGOs, Climate Justice Now, groundWork and the Federation for a Sustainable Environment, have criticised the loan, supported by the National Union of Metalworkers of South Africa and the South African Council of Churches.
They say if it is approved, the poor will bear the burden of Eskom debt.
Meanwhile, Eskom finance director, Paul O’Flaherty, says the company had already factored the World Bank loan into the funding plan it submitted to National Energy Regulator of South Africa (NERSA) as part of its application for tariff increases.
To read the article titled, “World Bank defends loan to Eskom,” click here.
The NGOs, Climate Justice Now, groundWork and the Federation for a Sustainable Environment, have criticised the loan, supported by the National Union of Metalworkers of South Africa and the South African Council of Churches.
They say if it is approved, the poor will bear the burden of Eskom debt.
Meanwhile, Eskom finance director, Paul O’Flaherty, says the company had already factored the World Bank loan into the funding plan it submitted to National Energy Regulator of South Africa (NERSA) as part of its application for tariff increases.
To read the article titled, “World Bank defends loan to Eskom,” click here.
Source:
Business Day
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