South Africa has submitted to some of the world’s richest nations a revised plan for how it will spend a proposed R151.2 billion to help it transition away from coal, two people familiar with the situation said. The new draft – sent to funding partners the UK, US, France, Germany and the European Union – advances a process that’s been mired for almost a year in complex negotiations.
South Africa’s landmark climate finance deal, unveiled at last year’s UN-led talks in Glasgow, was hailed as a prototype for helping other coal-dependent developing countries transition to cleaner energy. Its fate could have a knock-on effect at next month’s COP27 summit in Egypt, which is set to focus on the needs of poorer nations adapting to global warming.
How will it be split between cadres ?
It only takes a cursory look at how the ANC government has ACTUALLY spent money on all their previous large projects to know how and where the billions will end up.
Oh boy, there goes rampant embezzlement.
Yes BMW's come in electric now...ANC will enjoy with that money
All this to cripple the country to a dependent Germany
It better include good auditors to track the money spend
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Source: Moneyweb - 🏆 5. / 77 Read more »