S Africa power firm signs $500m loan with AfDB
Wednesday, 12 November 2008
JOHANNESBURG, Nov 11 (AFP): South Africa's state power utility Eskom has signed a 500 million dollar (393 mllion euro) loan with the African Development Bank (AfDB) to aid its expansion programme, a statement said.
The loan, signed yesterday and repayable in 20 years, is the largest ever granted by the private sector window of the bank, Eskom and the bank said in the joint statement today.
South Africa's national electricity company, Eskom Holdings Ltd, is rolling out an expansion programme that seeks to increase generation capacity and strengthen the transmission and distribution grid, to support growth in the region.
To date, the bank has approved a total of nine private sector operations amounting to approximately 1.2 billion dollars in South Africa, and two regional projects amounting to 105 million dollars, the statement said.
The loan, signed yesterday and repayable in 20 years, is the largest ever granted by the private sector window of the bank, Eskom and the bank said in the joint statement today.
South Africa's national electricity company, Eskom Holdings Ltd, is rolling out an expansion programme that seeks to increase generation capacity and strengthen the transmission and distribution grid, to support growth in the region.
To date, the bank has approved a total of nine private sector operations amounting to approximately 1.2 billion dollars in South Africa, and two regional projects amounting to 105 million dollars, the statement said.