{"id":36688,"date":"2023-10-26T15:57:21","date_gmt":"2023-10-26T15:57:21","guid":{"rendered":"https:\/\/www.africa-press.net\/eswatini\/?p=36688"},"modified":"2023-10-26T15:02:11","modified_gmt":"2023-10-26T15:02:11","slug":"world-bank-approves-1-billion-loan-to-help-south-africa-tackle-power-crisis","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eswatini\/all-news\/world-bank-approves-1-billion-loan-to-help-south-africa-tackle-power-crisis","title":{"rendered":"World Bank approves $1 billion loan to help South Africa tackle power crisis"},"content":{"rendered":"

Africa-Press – Eswatini. <\/strong><\/span>The World Bank said on Wednesday that its board had approved a $1 billion loan to help South Africa reform its energy sector, as the country tries to overcome regular power cuts that have curbed economic growth.<\/b><\/p>\n

The bank wants to support the country\u2019s reforms to split struggling power firm Eskom and to transition to a low carbon economy, it said in a statement.<\/p>\n

Marie Francoise Marie-Nelly, the World Bank\u2019s director for South Africa, had told Reuters last month that the loan was under discussion and could come soon.<\/p>\n

In Wednesday\u2019s statement, Marie-Nelly said reforms the government had launched would \u201cbenefit the people of South Africa \u2013 particularly the most vulnerable households \u2013 the economy, the environment, and advance the energy transition\u201d.<\/p>\n

Eskom\u2019s coal-fired power stations routinely break down, leading to outages of up to 10 hours a day.<\/p>\n

Several plants breached government emissions regulations earlier this year, according to a Reuters analysis published in September.<\/p>\n

The World Bank said its Development Policy Loan would contribute to a gradual reduction in water and air pollution by reducing the reliance on coal for power generation.<\/p>\n

South Africa\u2019s government pledged to split Eskom into three subsidiaries \u2013 transmission, generation and distribution \u2013 in 2019. In February, it agreed to take on 254 billion rand ($13.3 billion) of Eskom\u2019s debt, more than half its total debt, which was at risk of default.<\/p>\n

For More News And Analysis About Eswatini<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eswatini. The World Bank said on Wednesday that its board had approved a $1 billion loan to help South Africa reform its energy sector, as the country tries to overcome regular power cuts that have curbed economic growth. The bank wants to support the country\u2019s reforms to split struggling power firm Eskom and […]<\/p>\n","protected":false},"author":84,"featured_media":36686,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[234,248,249],"class_list":["post-36688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-eswatini","tag-eswatini"],"yoast_head":"\nWorld Bank approves $1 billion loan to help South Africa tackle power crisis - Eswatini<\/title>\n<meta name=\"description\" content=\"The World Bank said on Wednesday that its board had approved a $1 billion loan to help South Africa reform its energy ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/world-bank-approves-1-billion-loan-to-help-south-africa-tackle-power-crisis\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank approves $1 billion loan to help South Africa tackle power crisis\" \/>\n<meta property=\"og:description\" content=\"The World Bank said on Wednesday that its board had approved a $1 billion loan to help South Africa reform its energy ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eswatini\/all-news\/world-bank-approves-1-billion-loan-to-help-south-africa-tackle-power-crisis\" \/>\n<meta property=\"og:site_name\" content=\"Eswatini\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-26T15:57:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2023\/10\/sm_1698319896.762821.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1728\" \/>\n\t<meta property=\"og:image:height\" content=\"1097\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/world-bank-approves-1-billion-loan-to-help-south-africa-tackle-power-crisis#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/world-bank-approves-1-billion-loan-to-help-south-africa-tackle-power-crisis\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"World Bank approves $1 billion loan to help South Africa tackle power crisis\",\"datePublished\":\"2023-10-26T15:57:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/world-bank-approves-1-billion-loan-to-help-south-africa-tackle-power-crisis\"},\"wordCount\":250,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/world-bank-approves-1-billion-loan-to-help-south-africa-tackle-power-crisis#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eswatini\/sites\/33\/2023\/10\/sm_1698319896.762821.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eswatini\",\"Eswatini\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eswatini\/all-news\/world-bank-approves-1-billion-loan-to-help-south-africa-tackle-power-crisis#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/world-bank-approves-1-billion-loan-to-help-south-africa-tackle-power-crisis\",\"url\":\"https:\/\/www.africa-press.net\/eswatini\/all-news\/world-bank-approves-1-billion-loan-to-help-south-africa-tackle-power-crisis\",\"name\":\"World Bank approves $1 billion loan to help South Africa tackle power crisis - 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