Saturday, April 03, 2010

Why the World Bank should say no to Eskom deal In just days, the World Bank will vote on a proposed R29 billion loan to Eskom to build the fourth-largest coal plant in the world -- a climate disaster.

SHOOT: The investment should instead be in the financing of renewable energy and efficiency projects which would employ and benefit many more South Africans.
clipped from
Johannesburg - The ANC would make R1bn if the World Bank grants Eskom a $3.75bn loan to finance its contract awarded to Hitachi Power for work on the Medupi Power Station, said DA leader Helen Zille on Friday.
"I will point out that in granting the loan, the World Bank would effectively be bankrolling the ANC, in contravention of every principle of democratic practice, and against the World Bank's own protocols.
Zille would also meet with the US Ambassador and the British High Commissioner.
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