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Earthbeat:Breaking News : Special Interview on World Bank Vote |
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| Earthbeat |
Breaking News : Special Interview on World Bank Vote |
Interview with Desmond D'Sa |
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| Earthbeat |
Specials |
For non-profit use only. |
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| A special edition of Earthbeat Radio is available on a breaking story--an interview with South African social justice leader Desmond D'Sa (deh SAH) speaking about the World Bank vote today to approve a $3-point-75 (B) billion loan to South African power utility Eskom to help build a 4,800 MW coal-fired power plant in Medupi, the fourth largest in the world. The plant will emit 25 million metric tons of carbon dioxide per year, equivalent to more than the output of 115 other countries. |
Desmond D'Sa |
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The US Executive Director to the World Bank abstained in the vote to approve the loan, allowing the loan to be approved. The decision by the US director goes against a coal guidance policy issued by the US Treasury during climate talks in Copenhagen which encourages the World Bank to support development and funding of no- or low-carbon energy sources.
Civil society groups in South Africa have protested by the thousands in the streets, concerned that this loan would reinforce racist contracts that were initiated under the apartheid regime of South Africa. They claim the loan's main beneficiaries will be multinational corporations like BHP Billiton, Anglo American Corporation, and other energy-intensive industries - not the poorest of South Africa whom the World Bank is intended to serve. These corporations already receive the world's cheapest electricity supply: BHP Billiton's rate is just over US$0.01 per kWh, while South Africa's poor pay almost ten times that amount, if they can get access to electricity.
What remains to be disclosed - both to South African government officials and to the general public - is which corporations would receive special rates based on contracts that were signed when racist apartheid rule was in place. These contracts, some dating back to the early 1990s, still hold, despite the end of apartheid rule - and allow these multinational corporations financial advantages under "Special Pricing Agreements." All previous attempts to renegotiate these contracts have been futile and the content of these odious agreement have never been made public.
According to many of South Africa's leading community and faith-based organizations, citizen and environmental groups, social movements, academic institutions and trade unions, the loan will neither alleviate poverty nor increase access to electricity. On the contrary, it will actually exacerbate energy poverty; disconnections will increase dramatically as a 127% price increase from 2010-2012 hits poor and working people in what is the world's most unequal major country.
Nearly 200 organizations from South Africa and around the world have voiced opposition for the loan. Residents of the affected South African communities filed a complaint with the World Bank's inspection panel earlier this week. Chairmen of three U.S. Congressional committees with control over World Bank funding also expressed concerns, writing World Bank President Zoellick last week to raise "serious questions" about the wisdom of granting the request in light of the leadership role the Bank should be playing in post Copenhagen climate finance.
For more information please contact Daphne Wysham.
Earthbeat Radio can be found at www.EarthbeatRadio.org
--
Daphne Wysham
Fellow, Institute for Policy Studies
Co-Director, Founder, Sustainable Energy & Economy Network www.ips-dc.org/seen
Host, Earthbeat Radio www.earthbeatradio.org
twitter.com/daphnewysham
202-787-5208
skype: daphne.wysham |
Host: Daphne Wyshm
Producer: Aries Keck |
| Topics |
| Global Climate | Air Pollution | Africa |
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00:15:27 |
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00:09:27 |
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