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The World Bank’s ‘wisdom’ regarding Eskom – “World Bank Says South Africa Will Save It”

“World Bank approves Eskom loan” - Friday, April 9, 2010

https://www.sanews.gov.za/business/world-bank-approves-eskom-loan

Pretoria-The World Bank has approved --South Africa's US$3.75 billion loan to help the country achieve a reliable electricity supply.--

Eskom approached the Bank for funds to build the coal fired 4800 MW Medupi power station in Limpopo. The power station will help increase the country's generation capacity.

The Bank's Board of Executive Directors approved the loan that will go towards energy supply and the financing of solar and wind power plants on Thursday night.

This loan is one of the Bank's first major lending engagements with South Africa since the fall of apartheid. It aims to benefit the poor directly through jobs created as the economy recovers from the global financial meltdown.

"Without an increased energy supply, South Africans will face hardship for the poor and limited economic growth," said Obiageli K. Ezekwesili, World Bank Vice President for the Africa Region.


“World Bank says Eskom simply too big to fail” - 22 Jan 2019

https://www.news24.com/Fin24/world-bank-says-eskom-simply-too-big-to-fail-20190122

"It is just too big to allow it to disintegrate, and fixing all these pieces will be costlier than trying to reform it," the bank’s country director for SA, Paul Noumba Um, said at the launch of the bank's 12th SA economic update on Tuesday in Johannesburg. 

A 2016 World Bank study found Eskom was potentially 66% overstaffed when compared to power utility’s worldwide. [But it created jobs! It does not matter that the rest of the country is suffering.] The power utility has tentatively started to overhaul its top management, but widespread job cuts will be fiercely resisted by unions. 


“Good News for Eskom: World Bank Says South Africa Will Save It” - July 2, 2019

https://www.bloomberg.com/news/articles/2019-07-02/good-news-for-eskom-world-bank-says-south-africa-will-save-it?leadSource=uverify%20wall

The risk of South Africa’s struggling state power utility going bust doesn’t appear to faze one of its biggest creditors: the World Bank.