The New Development Bank will provide a project loan of about R6.8 billion to Eskom for Medupi Thermal Power Plant, National Treasury said.
Johannesburg - The New Development Bank will provide a project loan of U.S.$480 million to Eskom for environmental protection project for Medupi Thermal Power Plant, National Treasury said on Tuesday.
In a statement, Treasury said that this loan from the NDB was in line with the bank's focus on supporting clean energy in South Africa. The three South African projects are separate from the loan agreements that the NDB signed on Monday with Eskom and the Development Bank of Southern Africa . The U.S.$300 million loan agreement signed between the NDB and the DBSA is designed to support greenhouse gas emissions reduction and energy sector development project.
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