NDB's financing supports South Africa's sustainability agenda, helping the nation meet its climate commitments and transition to a greener economy.
Leslie Maasdorp, Vice President and Chief Financial Officer of the New Development Bank talking to a journalist at the bank’s 4th annual meeting held at the Cape Town International Conference centre. Picture: Ian Landsberg / Independent Newspapers / FileThe New Development Bank has become a player in South Africa ’s transition towards a green and sustainable economy.
The Greenhouse Gas Emissions Reduction and Energy Sector Development Project, another NDB-funded initiative, is expected to generate thousands of jobs in the renewable energy sector during and after construction. Beyond energy and infrastructure, the NDB-funded projects also facilitate the transfer of green technologies and knowledge, bolstering South Africa’s capabilities in sustainable development. The bank’s investments often have significant social impacts as well, said Henderson.
“The NDB’s $180 million loan for the Renewable Energy Integration Project aligns with the goal of adding 14.4 GW of wind power and 6 GW of solar power by 2030,” she said. “These alignments ensure that NDB’s investments not only contribute to specific project outcomes but also support South Africa’s broader sustainability agenda, fostering long-term environmental, social, and economic benefits,” she said.
Henderson also suggested that “the NDB could play a crucial role in financing the necessary infrastructure for hydrogen production, storage, and distribution, positioning South Africa as a key player in the emerging global green hydrogen market”.
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