Africa > Southern Africa > South Africa > Eskom has signed an inaugural $5 billion credit facility with the China Development Bank.

South Africa: Eskom has signed an inaugural $5 billion credit facility with the China Development Bank.

2016/10/04

Eskom says the initial payment from the China Development Bank will be used to help finish its build programme.
The power utility has signed an inaugural $5 billion credit facility with the bank. The initial payment of R7 billion was paid out yesterday.

Eskom’s Khulu Phasiwe says this further stabilise the company’s financial position.

“It will go towards the completion of Ingula Power Station. In total, over the next five years we’re planning to raise about R239 billion and this money will go towards that objective.”

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