The World Bank has sanctioned $3.75 billion loan to South Africa for the development of wind and solar power plants to meet the country's energy requirements.
The bank's board of executive directors approved the loan that will go towards energy supply and financing of solar and wind power plants.
"Without an increased energy supply, South Africans will face hardship for the poor and limited economic growth," said Obiageli K. Ezekwesili, World Bank vice president for the Africa Region.
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