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Gigaba didn't meet bank on nuclear issue – official

Publish date: 13 November 2017
Issue Number: 751
Diary: IBA Legalbrief Africa
Category: General

Spokesperson Mayihlome Tshwete has rubbished claims that South Africa's Finance Minister, Malusi Gigaba, met representatives of the World Bank to discuss financing for the development of a nuclear power programme. It was reported that Gigaba met the bank on 3 November to discuss funding options available to Eskom. However, it is possible the parties met over an existing World Bank loan arrangement, meant to fund the now suspended renewable-energy programme, says a BusinessLIVE report. Tshwete said focus of the engagement with the World Bank was on financing Eskom’s Medupi power plant and that Gigaba met vice-president of the World Bank, Africa Region, Makhtar Diop on 31 October and 1 November.

Full BusinessLIVE report