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The African Development Bank (AfDB) plans to lend South African power utility, Eskom, approximately $720 million (R10 billion) in 2019 and 2020, according to the bank’s president Akinwumi Adesina.
“We plan to lend around $620 million for the Medupi power plant and around $100 million for Eskom’s transmission network, but that still needs to be approved by the board,” says Adesina.
The AfDB is currently holding an investment forum in Johannesburg from 7-9 November.
Earlier this year, the AfDB approved a separate loan of R2.9 billion to upgrade and expand Eskom’s transmission network.
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