South Africa: Eskom gets 1.86bn for new power plant project

The African Development Bank announced it has approved a €1.86bn loan to South Africa’s energy giant Eskom. “South Africa’s energy problem has been a major impediment to Africa’s leading economy. We look forward to working with South Africa towards achieving energy security,” bank President Donald Kaberuka was quoted as saying according to Times Live. The loan will finance the Medupi power plant project Limpopo province, which is expected to be commissioned by February 2012.