May 2, 2019 / 3:42 PM / in 18 days

South African government says Chinese loan to Eskom not in jeopardy

JOHANNESBURG, May 2 (Reuters) - South Africa’s public enterprises ministry on Thursday said that a China Development Bank (CDB) loan to struggling state power company Eskom was not in jeopardy.

Eskom had expected to draw down 7 billion rand ($481 million) from a $2.5 billion CDB loan facility by late March, but South Africa’s finance ministry said in a report to parliament last month that the drawdown had been delayed.

The South African government and Eskom are working to ensure the transfer of funds from CDB to Eskom, the public enterprises ministry said in a statement. ($1 = 14.5500 rand) (Reporting by Alexander Winning Editing by David Goodman)

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