African Development Bank approves R8.4bn million for SA's green growth programme

THE African Development Bank (AfDB) Group has approved a $474.6 million (around R8.4 billion) loan earmarked for South Africa's Infrastructure Governance and Green Growth Programme (IGGGP).

- SIPHELELE DLUDLA

This funding, designed to bolster the country’s transition to a low-carbon economy, is a vital component of South Africa’s ongoing efforts to enhance its energy landscape amidst pressing challenges.

The IGGGP represents the second phase of the bank's strategic backing for a Just Energy Transition in South Africa, following the success of the earlier $300 million Energy Governance and Climate Resilience Programme, approved in 2023.

This prior initiative succeeded in reinforcing financial stability whilst expanding renewable energy capacity throughout the nation.