30 May '11, 8pm

US To Finance Dirty Coal Power In South Africa

US To Finance Dirty Coal Power In South Africa

Whether you’re an American taxpayer, a South African or just an environmentally-conscious world citizen, the fact that an official federal agency of the US government has just agreed to help finance a giant new coal-fired power plant in South Africa is more than troubling. Ex-Im Bank loan approved On Monday, South Africa’s state-owned electric utility, Eskom, announced that the Export-Import Bank of the United States (Ex-Im Bank) has given its initial approval for an $805 million (R5.78 billion) loan to help Eskom continue to build the Kusile power plant in the Mpumalanga Province. The Ex-Im Bank is the official export credit agency of the US federal government, but in practice it seems to operate quite independently of governmental oversight. A poor climate change record In the past, the agency has been criticised for its support of unpopular fossil fuel and nuclear energ...

Full article: http://www.care2.com/causes/global-warming/blog/us-to-fin...

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