Germany and France are in talks with National Treasury over about 600 million euros (~R10.4 billion) to help it transition away from the use of coal. The loans may form the first part of $8.5 billion in financing offered to the country during last November’s global climate summit. Germany is in talks with South Africa over a "promotional loan" of as much as 300 million euros that is "part of a wider engagement worth 700 million euros", the German embassy in Johannesburg said in response to queries. France is working through Agence Francaise de Developpment, its state development bank, together with its German peer, KfW, to supply a similar loan, the French embassy in South Africa said. Eskom referred questions to South Africa’s National Treasury.

Source: News 24 September 29, 2022 08:05 UTC