The Brics New Development Bank (NDB) kicks off its first meetings in SA in the week ahead after announcing plans last week to lend as much as R11.2bn to Eskom in 2019 for infrastructure projects. Brazil, Russia, India, China and SA established the bank to mobilise resources for infrastructure and sustainable development projects in Brics and other emerging economies and developing countries. In an interview with Business Day on Friday, Treasury deputy director-general for international and regional economic policy Vuyelwa Vumendlini said the bank had scrutinised the state-owned entity’s finances before granting the loan. “Eskom, like any other entity, approached the bank for a loan and, like any other bank, the NDB looked at their finances and granted it a loan,” Vumendlini said. “That the NDB has given a loan shows that they are comfortable with Eskom’s finances,” she said. Eskom is facing operational and financial challenges, and persistent load-shedding in 2019 has threatened to ...

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