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New World Bank loan puts corporate power over people

The Alternative Information & Development Centre (AIDC) has raised concerns about the $1.5 billion (approximately R26.5 billion) World Bank loan to South Africa. They argue that the agreement serves the narrow interests of private investors and business elites, compromising public welfare, public finances, and economic sovereignty. Andile Zulu, AIDC Energy Democracy Program Officer, explains why this is a bad idea. 

 

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