World Bank Approves $19.2 Billion loan to end loadshedding | Infrastructure news

A report by Reuters has revealed that the World Bank has approved $19.2 billion to assist South Africa in eliminating loadshedding.

Marie Francoise Marie-Nelly, the World Bank’s Director for South Africa, lauded the reforms initiated by South Africa, noting, “These reforms will yield substantial benefits for the people of South Africa, particularly those in vulnerable households, the broader economy, the environment, and the overall progression towards cleaner energy.” This loan signifies a significant stride in advancing South Africa’s energy action plan.

South Africa’s Electricity Minister, Kgosientsho Ramokgopa, expressed his optimism regarding the tangible progress, stating, “We are now demonstrating the feasibility of overcoming load shedding. To reach a point where we can achieve 365 days without load shedding, it starts with a single day of uninterrupted power supply. We are steadily approaching our desired outcome.”

He also emphasised the escalating availability of power generation and its consistent performance, inching closer to a consistent 30,000 MW supply. “The prospect of reducing unplanned capacity losses to below 12,000 is now a reality,” he affirmed, highlighting the nation’s encouraging trajectory.

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