The head of France’s state development bank expects other development finance institutions to add to a €400 million ($432 million) climate loan for South Africa that partners will likely sign within days. “The idea is not do it in a pure France, South Africa partnership,” Remy Rioux, the chief executive officer of AFD, said in an interview in Johannesburg on Thursday. The success of the South African partnership — the first of its kind — is key as funders pursue similar deals with Indonesia, Vietnam and Senegal. To date, aside from grants, the only money that South Africa has received through the pact is the earlier loan from the AFD and €800 million from Germany. The AFD’s board has approved the loan and the lender has to iron out some final details with South Africa before signing, Rioux said.

Source: The North Africa Journal November 08, 2024 08:03 UTC