South Africa remained "optimistic" that the World Bank would approve a $3,75-billion loan for State-owned power utility Eskom on April 8, 2010, Finance Minister Pravin Gordhan said on Thursday. However, he said that the country, which had hitherto refrained from accepting loans from the bank, would "cope" without the loan, and would also not accept any "conditionalities".

Speaking in Johannesburg at a briefing convened to confirm that the South African Revenue Service had outperformed revenue collection targets by R8,1-billion in 2009/10, collecting R598,5-billion, Gordhan again stressed that South Africa, and other developing countries, should be allowed to rely on coal as a primary-energy source, while setting in place mechanisms to cap future carbon dioxide (CO₂) emissions.

He noted, too, that the world's biggest economy, the US, continued to relay on coal for 50% of its power needs.

"The key issue on the World Bank loan is that this is an opportunity for the World Bank to build a relationship with South Africa.

"We must be absolutely clear that South Africa will not accept any conditionalities of any kind," the Finance Minister said.

He added that it was regrettable that some nongovernmental organisations (NGOs), particularly in developed countries, together with a "very small group of NGOs in South Africa" were placing "environmental concerns, which could not be immediately addressed, above the economic needs of South Africa".

South Africa had "a very clear plan" for reducing its CO₂ emissions, as outlined in commitments made at the recent climate change gathering, which was held in Copenhagen, Denmark, in December.

Over the next ten to 15 years, the country would decrease its dependence on coal, by investing in renewable energy and nuclear power.

Gordhan said that, as government canvassed the next version of the country's integrated resources plan, which would set out a road map for the country's energy mix for the next 20 years, it would become clearer has to how South Africa planned to begin reducing its dependence on coal as its key primary energy source.