SA flags next World Bank loan for #Eskom as $3,75bn vote looms < what crap!

SA flags next World Bank loan for Eskom as $3,75bn vote looms.

I read this article, and see this is only a portion of the loan.. does the world Bank not realise they are dealing with token appointments in positions of power, who don’t have a clue beyond jetting out with friends, family, and the whole tribe to the next taxpayer’-sponsored overseas holiday?

Eskom cannot even refurbish its outdated power plants, sells power throughout Africa and uses what amounts to blackmail to force increases on an already impoverished nation, caused through corruption, theft and misappropriation of funds by the Government, Eskom employees themselves, and other various Govt Departments. Other various Govt Departments – I correct myself here… -> EVERY SINGLE GOVERNMENT DEPARTMENT REELS UNDER THE  CORRUPTION…

Anyone ever done a survey of how many MPs have criminal convictions for fraud, corruption, theft? Try it – you would be amazed!

How DARE they risk taking out further loans that they have no hope in paying – EVER? The South African public CANNOT afford basic services, let alone the additional charges that are now havnig to be footed.  An average normal 3 b/roomed house with a family of 3 or 4 is already in for R1500 a month BEFORE watering their garden, washing their cars (if they can afford one, and then only if they can afford to run it with monthly petrol hikes) taking a bath, and this is with keeping all electrical applicances off during peak times or as we the public know so well, the 3 – 18 hour (sometimes longer) scheduled outages that no one really knows the schedules to….

WAKE UP SOUTH AFRICA!  If Any South Africans did NOT sign the petition sent out by members of Avaaz, of which i am PROUDLY one,  saying NO to Eskom’s proposed R29 bn loan for coal, no less, before sorting out the electrical problems in this country, then they did NOT think of their fellow countrymen.

Does anyone REALLY think that Eskom is going to take R29 billion and spend it on anything useful?  Why did they not take the billions already misappropriated by the powers that be and spend it repairing and upgrading infrastructure, installing new power sub-stations and ensuring that the public who pay more than 50% of their average earnigs to this pathetic excuse of an organisation, are not upgraded, new stations installed, cut down on scheduled outages that affect the entire country’s economy?  (Okay so we don’t really have an economy to speak of now, it’s a hand to mouth existence which they are hoping to change with the WC2010 – but they might want to pay for the stadiums and sort out the impending serious security and criminal issues first)..

Oh please… this will be doing the country a dissservice.. and this R29 billion is only a “portion” of the proposed loan?

Let’s read a little further in this site…. Eskom (Govt owned and controlled) tried already to borrow R60 billion from the Goverment… if the Government can’t afford it, who’s going to foot the bill for this next can of worms?

News last week on eTV is that both the Mandela and Zuma families own goldmines… Obviously.. because they’re not supposed to – or because they’re supposed to declare them – whatever the case they own the goldmines.  Their workers have not been paid for 2 months.  Their living and working conditions are absolutely disgusting and yes, they are striking – wanting to strike – they have families to feed.  IF THE LIKES OF ZUMA AND MANDELA CANNOT PAY THEIR OWN STAFF’S WAGES and here I hasten to add that these gold miners are expected to work in shafts where even ESKOM has not been paid by the people who run this country (and/or their families <- all token appointments as we are well aware) then what on earth are we doing – what business does Eskom have of trying to mine Coal, utilise coal, manufacture any other plants for any other purposes when they cannot even supply the country with basic electricity without having to power out entire cities for hours at a time.

Sad – tragic – country we live in, the longer these people are allowed to get away with it, and the longer it is sanctioned by those other ill-informed participants the only casualties will be the already impoverished but once proud and wealthy Nation of South Africa…

and they’ll still blame it on apartheid…

And Julus Malema will still becomome threatening and abusive on national television to international reporters, calling them politically incorrect names, swearing and abusing them verbally, knowing – yes KNOWING – that he is above the law… Why? He said so himself in this press conference on 08 April, something to the effect  “…this is for blacks… you bloody Asian…” After calling him other swear words…

What a pathetic and dangerous situation has been created here…

Poor households, the National Treasury pointed out, already received free basic electricity of 50 kWh a month.  <<<<

CRAP!!!!!! what lies they are telling! WHO gets free electricity.. if you are ONE day late in payment you get disconnected! finished. end of story!


7th April 2010

The South African government indicated on Wednesday that the proposed $3,75-billion World Bank loan for Eskom was a component of a larger $6-billion “funding window” with the bank, and that an additional $1,25-billion could flow to the State-owned power utility specifically for emission-reduction projects. This funding would be over and above the initial Eskom package, which was due to be voted upon in Washington DC on Thursday.

In a briefing note issued the day before the vote, the National Treasury reiterated that the Eskom application had been premised on the “fundamental belief that developing countries must be allowed to develop their energy security” in the “most cost-effective and sustainable matter”.

It also indicated that it had not yet decided whether it would draw on the remaining $1-billion of the $6-billion on offer, saying only that this capital could be directed towards large infrastructure developments in the country.

The South African government would, however, resubmit a $250-million application to the World Bank-administered Clean Technology Fund to help kick-start renewable energy programmes in the country.

The immediate focus, however, was on securing the International Bank for Reconstruction and Development (IBRD) loan for Eskom, which had drawn opposition from some environmental groups and politicians.

It was far from clear on Wednesday, whether some governments, including the US and the UK, would vote in favour of the Eskom loan, owing to the fact that the bulk of the proceeds ($3,05-billion) would flow to the 4 800-MW Medupi coal-fired power project, which is being developed in Limpopo province.

World Bank President Robert Zoellick defended the loan package in a letter to a group of US lawmakers who raised questions about the bank’s support for the coal project.

US Congressman Barney Frank and US Senators John Kerry and Patrick Leahy have reportedly sought assurances from the bank that Eskom will extend electricity to the poor; that the use of renewable energy will be increased; and that Eskom will retrofit its facilities with additional environmental safeguards.

In its note, the National Treasury insisted that Medupi had already been factored into its Copenhagen Accord commitments, while the project was employing “supercritical technology” that was akin to what would be pursued in developed economies. It also indicated that renewable energy would be pursued under the country’s long-term integrated resource plan and that government was still targeting to achieve universal electrification by 2014. Poor households, the National Treasury pointed out, already received free basic electricity of 50 kWh a month.

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