S.Africa says W.Bank loan free of economic conditions

A $3.75 billion loan sought by South Africa from the World Bank would not have any macroeconomic conditions attached, the country’s Public Enterprises Minister Barbara Hogan said on Friday.

South Africa’s state-owned utility Eskom is seeking the loan, intended to help expand power generation capacity to meet fast-rising demand in Africa’s biggest economy.

“The World Bank loan would be a specific investment loan and that means that the bank has no say in South Africa’s policy. Any conditionalities will not be macro-economic conditionalities,” Hogan told a media briefing.

Reuters.