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African Development Bank commits R6 billion for Eskom green energy switch
The African Development Bank will commit 42.5 billion rand ($2.8 billion) in new financing to South Africa over the next five years, including a 6 billion-rand package to help state power utility Eskom Holdings SOC Ltd. transition toward using cleaner sources of energy.
“The African Development Bank believes in South Africa,” Akinwumi Adesina, the lender’s president, said at an investment conference in Johannesburg on Thursday. “We know South Africa is bankable.”
The African Development Bank will commit 42.5 billion rand ($2.8 billion) in new financing to South Africa over the next five years, including a 6 billion-rand package to help state power utility Eskom Holdings SOC Ltd. transition toward using cleaner sources of energy.
“The African Development Bank believes in South Africa,” Akinwumi Adesina, the lender’s president, said at an investment conference in Johannesburg on Thursday. “We know South Africa is bankable.”
