Fmr. World Bank Economist on Medupi Power Plant Loan

The World Bank has now approved a controversial .75 billon loan to South Africa to help build a new coal-fired power plant in that country. The proposed Medupi Power Plant would be a 4,800 MW, super-critical facility located a few hours’ drive north of Johannesburg, very close to the coal mines that will provide supply. But the World Bank awarded the loan to state utility Eskom without the support of major shareholder countries, including the U.S. which abstained from the vote.