JOHANNESBURG - South Africa has signed loan agreements with France and Germany amounting to €600 million to support the country's move away from its reliance on coal.The French and German public development banks, AFD and KFW, have provided the loans directly to the South African government via the National Treasury.The money is aimed at supporting the country's efforts to reduce its reliance on coal by moving towards cleaner energy sources.
This comes after the Just Energy Transition Partnership was announced at COP26 in November last year. The founding partners of the JETP, known as the international partner's group, pledged to mobilise an initial amount of $8.5 billion over the next three to five years to advance the partnership. The group has noted that the coal sector in South Africa remains significant to the country's national economy and the livelihood of many communities.
Didn't the rich countries say they would subsidize emerging economies Not with loans but grants
One last theft for MYANC and let incoming Gov worry about paying it off so they'll have an even bigger mountain to climb!
Bye bye money…
Too much loans in short space of time.... What are we upto as a country
Lekka geldjie om weer te steel en verduister
Repo rate ka nako eo ereng!?
Let's pray it's not for fuller pockets!!
Loan after loan...
All going into various pockets..... 🙁🙁🙁
I hope there are audit and compliance requirements attached or these funds will be snatched in no time. Maybe already allocated.
Safa ama loan.. if we dont have money for it then we simply cant afford it .. & should rather save for it 🤷🏾♂️
This loan decision was taken by pensioners in the parliament because they see their time is up,they will pocket some of this money and struggle to repay it.
Lot of money to fight air pollution not climate change, no one can fight nature, climate change is natural. This another way of increasing our debts and some increasing their wealth.
France say goodbye to your 'investment'
Owk let me put it this way guys, the money is not for cleaner energy, but it will be used to buy votes during the ANC elective conference hence the dollars that were hidden at phala Phala bank have been stolen. Good day
Mr loan himself 👇👇
And please tell me how we service this loan
😭😭😭😭☹️☹️☹️☹️☹️😢😢😢😢😢
I guess the ANC will mysteriously be able to pay their employee's salaries going forward...
Even whites can't keep up with their best man policies. Anc NEC is full of cowards. tito_mboweni i bet you too can't explain these loans.
Whose gonna pay pay this useless loan? Us, our kids, our kids kids etc
😭😭😭
Suicide mission,we have coal and we must use it not be told by others what we should or shouldn't do.
This is recklessness,what clean energy,the same EU countries that are not able keep their lights on are making promises,if that so called clean energy was possible they'd have already been ahead,this phala phala guy is a serious liability.
How does the government plan on repaying this? We've heard of covid loans that were squandered through corruption and no one held accountable.
😔 just know your children’s children will still be paying off these loans we keep making
Same countries buying more coal from South Africa
Oh goodness when will Europe ever learn. They should rather keep their money instead of feeding it to South Africa where it will be lost in the dark pit of corruption
Enough to build another fire pool
And that money will mysteriously VANISH, like all the rest. WorldBank
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