South Africa, France and Germany have signed loan agreements to support South Africa’s just energy transition, and these are the terms.
South Africa, France and Germany have signed loan agreements for the two European nations to each extend €300 million – about R10 billion in total – in concessional financing to South Africa to support the country’s just energy transition.
“Due to South Africa’s high stock of debt and the currently high-interest rate environment, replacing market lending with much cheaper concessional loans allows South Africa to reduce its cost of funding and overall debt burden. These loans form part of an international funding package of $8.5 billion , known as the Just Energy Transition Partnership , pledged to SA by France, Germany, the UK, the US and the EU at COP26 in November 2021.
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