TCOB: New World Bank loan puts corporate power over people - AIDC
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The World Bank has approved a $1.5 billion (approximately R26.5 billion) loan to support structural reforms aimed at boosting South Africa’s infrastructure. The bank said its programme will help by improving energy security, increasing freight transport efficiency, and supporting the shift to a low-carbon economy.
However, the Alternative Information & Development Centre (AIDC) has expressed concern over the loan, citing that the agreement is aimed at satisfying the narrow interests of private investors and business elites at the expense of the public good, public finances and economic sovereignty.
We spoke to Andile Zulu, Energy Democracy Program Officer at AIDC on why they think this is a bad idea.
However, the Alternative Information & Development Centre (AIDC) has expressed concern over the loan, citing that the agreement is aimed at satisfying the narrow interests of private investors and business elites at the expense of the public good, public finances and economic sovereignty.
We spoke to Andile Zulu, Energy Democracy Program Officer at AIDC on why they think this is a bad idea.
