Johnathan Paoli
THE EFF has strongly condemned the “just energy” loans from the World Bank, Germany, and the African Development Bank saying this was an attempt to entrap South Africa into a debt trap by the ANC, owing to their diminishing political power and control.
The department of Treasury announced on Tuesday that government signed loan agreements to the value of almost R34 billion with the World Bank, Government of Germany, and the African Development Bank (AfDB) for concessional financing to support the country’s Just Energy Transition in line with the Just Energy Transition Investment Plan (JET-IP).
The department said the loans provided by Germany’s Kreditanstalt für Wiederaufbau (KfW) and the AfDB follow their partnership with the World Bank on the second Development Policy Operation (DPO) to support South Africa’s commitment to the just transition for a low-carbon and resilient economy and are sovereign loans provided directly to the National
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