South Africa gets R10 billion from France and Germany for the move away from coal – terms and conditions apply

South Africa, France and Germany have signed loan agreements for the two European nations to each extend €300 million – about R10 billion in total – in concessional financing to South Africa to support the country’s just energy transition.

“Due to South Africa’s high stock of debt and the currently high-interest rate environment, replacing market lending with much cheaper concessional loans allows South Africa to reduce its cost of funding and overall debt burden. These loans form part of an international funding package of $8.5 billion , known as the Just Energy Transition Partnership , pledged to SA by France, Germany, the UK, the US and the EU at COP26 in November 2021.

Aren’t they currently back on coal power 🫠

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South Africa: France, Germany Grant SA €600 Million JET Concessional FinancingSouth Africa, France and Germany have signed loan agreements for the two European nations to each extend €300 million in concessional financing to South Africa to support the country's efforts to reduce its reliance on coal through a just transition to cleaner energy sources.
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