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World Bank

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The World Bank approved a $1B loan to help blackout-hit South Africa’s energy sector

The World Bank approved a $1 billion loan for South Africa on Wednesday to help it address an energy crisis that has peaked this year with the country’s worst electricity blackouts. The energy problem has forced the country to lean on its highly polluting coal-fired power stations. The South African government has said it needs nearly $80 billion over the next five years to fund its transition to greener energy sources. It has already received a $439.5 million loan from the World Bank to help convert a former power station into a renewable energy provider. The Komati power station was decommissioned last year, but its story is an example of how developing countries desperately need money to finance their change to greener energy sources to help meet climate change goals.
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The World Bank has been urged to provide more funding for African countries facing climate change and other problems.

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  • Ann Nyambura

    37 w

    The loan will help mitigate these issues by supporting the energy sector.

    3
    • George Kariuki

      37 w

      I hope that the World Bank's loan to South Africa will inspire other developed countries to provide more financial assistance to developing countries to help them transition to clean energy.

      3
      • We Don't Have Time

        37 w

        Dear Videlis Eddie Your climate love has received over 50 agrees! We have reached out to World Bank by email and requested a response. I will keep you updated on any progress! To reach more people and increase the chance of a response, click the Share button above to share the review on your social accounts. For every new member that joins We Don't Have Time from your network, we will plant a tree and attribute it to you! /Adam, We Don't Have Time

        • Edwin wangombe

          38 w

          this is awesome .. its a good investment that will help the country and the planet be less polluted from fumes of burning fossil fuels for electricity

          3
          • Rashid Kamau

            38 w

            Worthy of support.

            6
            • rosebellendiritu

              38 w

              Hope it will now abandon leaning on coal

              11
              • Gorffly mokua

                38 w

                This money should be invested in solar energy and other eco-friendly alternatives.

                4
                • rosebellendiritu

                  38 w

                  @gorffly_mokua True!we should opt for green energy

                  2
                  • Jane Wangui

                    37 w

                    @gorffly_mokua our utmost hope is for this funds to be used for the right purpose.

                    2
                  • Rukia Ahmed Abdi

                    38 w

                    The World Bank's approval of a $1 billion loan to address South Africa's energy crisis is a positive step. It's crucial to tackle the reliance on highly polluting coal-fired power stations and facilitate the transition to greener energy sources. This loan contributes to the country's quest to secure $80 billion for a sustainable energy transition. It's a testament to the financial support developing nations require to meet climate change goals. More funding for climate challenges in African countries is indeed necessary. 🌍💡 #EnergyTransition #ClimateChange #SustainableDevelopment

                    12
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