Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

US reviewing Eskom proposal

Mar 12 2010 15:25

Related Articles

World Bank Eskom loan 'critical'

Top exec to challenge Eskom

Eskom loan 'must be conditional'

Eskom happy about Busa's support

Power crunch expected in 2011

Electricity use linked to economy

 

Top Stories

SA economy adds 80 000 jobs in January

Feb 13 2012 10:43

Although jobs were created, the economy is still 420 000 jobs short of the peak employment level before the 2009 global financial crisis, says Adcorp.

Greece at last approves austerity measures

Feb 13 2012 07:58

Greek lawmakers have approved a new round of drastic austerity measures after a long day of street battles between police and protesters left dozens injured.

What to do with R200K?

Feb 13 2012 07:41

A reader gets advice on quick returns on a lump sum.

 
Share Share line Print

Johannesburg - The United States government's review of Eskom's proposal for a loan from the World Bank was "in process", the US Embassy in Pretoria said on Friday.

Earlier, at a media briefing, South Africa's Public Enterprises Minister Barbara Hogan indicated that the US would abstain from voting on the $3.75bn loan.

If awarded, most of the loan will go towards funding the coal-fired Medupi power station in Limpopo.

It has been opposed by environmental rights groups, who favour low-carbon economies.

"The Americans are under more pressure and they have indicated to us they're not going to vote against, but they'll abstain from voting.

"They're under particular pressures from their own lobbies," Hogan said.

In a terse statement, the US Embassy said the US Treasury was leading the US government's review of the Eskom proposal currently before the World Bank "and the development of a position that is consistent with administration policy and with the facts surrounding the project".

It said the US government had heard from several civil society groups, in both South Africa and Washington, which had raised concerns about the project.

It had also heard from Eskom and South African government representatives, who had argued its merits.

"The Eskom loan proposal will go before the World Bank's board of executive directors - where the US is one of 24 members," the embassy said.

- Sapa

 
 
Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
Facebook still a closed book in China
Feb 08 2012 16:59

Mark Zuckerberg wants to ''friend'' China's massive market but how far is he prepared to go, and against what competition?

Attie

Whilst doing my regular book browsing at Exclusive Books just before Christmas 2011 a book with the simple title “My Book” caught my eye. Paging through the book I saw nothing else but wild life photographs with accompanying quotations by either the author or another well-known person. ... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...