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Rich nations add to SA climate loan

The Citizen

November 11, 2024

The head of France's state development bank expects other development finance institutions to add to a €400 million (about R7.5 billion) climate loan for South Africa that partners will likely sign within days.

The funds are part of a $9.3 billion (about R172 billion) climate-finance pact agreed between SA and some of the world's richest countries in 2021 to help cut its reliance on coal, which accounts for four-fifths of its electricity generation.

Germany's KfW development bank matched a €300 million loan by France's Agence Francaise de Developpement (AFD) made in 2022 as part of the Just Energy Transition Partnership (JETP).

Cette histoire est tirée de l'édition November 11, 2024 de The Citizen.

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