World Bank approves SA's $497 million loan
The World Bank has approved South Africa's loan of $497 million, to transition the country to a low-carbon development path. The bank says the decommissioning of the Komati coal-fired plant in Mpumalanga will result in reduced carbon emissions. But analysts say that South Africa cannot afford to take loans in foreign currency due to the rand weakening against all major currencies. And that attempt to reduce carbon emissions by replacing coal-fired power stations with wind and solar is misguided. For more news, visit sabcnews.com and also #SABCNews on all Social Media platforms.
