The African Development Bank plans to lend South African power utility Eskom around R10-billion ($720-million) in 2019 and 2020, the bank's president Akinwumi Adesina said.

"We plan to lend around $620-million for the Medupi power plant, and around $100-million for Eskom's transmission network, but that still needs to be approved by the board," said Adesina, whose bank is holding an investment forum in Johannesburg.

Earlier this year the African Development Bank approved a separate loan of R2.9-billion to upgrade and expand Eskom’s transmission network.