Eskom: World Bank loan decision expected early 2010

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 said on Monday.

Earlier this month the World Bank said on its website that Eskom had applied for the initial three 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 steps 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.”—Reuters

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