This is a terrible way to spend $3 billion though at least the US and a few other allies abstained from participating in the vote. More pollution is not the direction we need at this time. Nobody is arguing against creating more energy but coal?
The World Bank on Thursday approved a controversial $3 billion loan for the development of a coal-fired power plant by the South African state utility Eskom despite lack of support from major shareholder countries.
The United States, the Netherlands and Britain said they abstained from supporting the loan because of environmental and other concerns about the project.
Eskom has defended the development of the 4,800-megawatt Medupi plant in the northern Limpopo region, saying it is critical to ease the country's chronic power shortages as well as to ensure electricity flows to neighboring states.
The World Bank said the loan would help "South Africa achieve a reliable electricity supply." In addition to the $3 billion loan for the coal plant, the World Bank approved $750 million in financing for renewables and energy-efficiency projects.
"Without an increased energy supply, South Africans will face hardship for the poor and limited economic growth," Obiageli Ezekwesili, World Bank vice president for Africa, said in a statement.
