ANC WELCOMES WORLD BANK DECISION ON ESKOM

The African National Congress (ANC) warmly welcomes the decision by the World Bank to grant the much-needed $3.75billion loan to the South African power utility, Eskom. The loan will now see the realisation of major expansion projects proceeding well and unhindered by financial constraints.

The recapitalisation of our energy industry signals a boost in economic development and guarantees a security of supply, not only in the country but in neighbouring South African Development Community (SADC) countries dependent on South Africa for power supply.

We hail the decision by the World Bank in putting - not only the interests of the people of South Africa first - but the entire continent, confounding such narrow critics like the Democratic Alliance (DA) leader Helen Zille who have been campaigning against the granting of the loan.

The failed bid by Zille has exposed her and the DA clique - not only as unpatriotic - but bent on destroying the growing South African economy to satisfy narrow interests.

Statement issued by Brian Sokutu, African National Congress spokesperson, April 9 2010

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