Deadlock in South Africa’s $8.5bn climate funding talks: Negotiators are concerned that 80% of the money promised by the UK, US, Germany, France and the European Union is in the form of high interest loans
to help South Africa phase out coal-fired power stations are running into stiff headwinds, with sources close to the talks saying South Africa may be forced to withdraw from them.
The sources said a major problem is that 80% of the proposed finance will be in the form of loans at high interest rates, which will place the country in further debt.Subscribe to the M&G today for just R30 for the first three months* to gain access to this story and all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.”
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