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Development Lead South Africa

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Loans - South Africa needs more and more

22 Nov 2011

Business Live reports that finance minister Pravin Gordhan has asked the World Bank to make more money available to South Africa so that various renewable energy projects can get underway quickly.

(Image: GCIS)

The World Bank, African Development Bank and Agence Francaise de Development have collectively made millions of dollars available to Eskom.

According to Business Live, Gordhan says that funding will contribute to cheaper energy, reduce carbon emissions and will be a key factor for South Africa's future as the country had a competitive advantage in terms of abundant sunshine and vast tracts of undeveloped land.

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