Companies / Energy Germany’s KfW grants Eskom a loan worth almost R1.4bn BL PREMIUM

German state-owned bank KfW has agreed to loan Eskom $100m, equivalent to about R1.38bn at Friday’s exchange rate. The German embassy issued a media statement saying the loan added to R29bn that Germany had committed since 1995 "to address SA’s triple challenge of overcoming poverty, unemployment and inequality by empowering people, improving institutional capabilities, building skills and stimulating inclusive economic growth". "A reliable energy supply is the backbone of growth, job creation and innovation," deputy German ambassador Klaus Streicher said in the media release. "Clean energy is a prerequisite for health and quality of life. When we work together on the basis of trust, leveraging each other’s strengths, we make the greatest strides towards a greener and more inclusive society." The loan from KfW — originally Kreditanstalt für Wiederaufbau, which translates to "reconstruction credit institute" — is to co-finance three transmission projects that involve the upgrading of...