International
COP27: SA secures funding─── 05:22 Thu, 10 Nov 2022
President Cyril Ramaphosa/PHOTO: ANA
South Africa has signed loan agreements with France and Germany worth about R10 billion to facilitate its transition from coal.
The loans will be provided by the French and German public development banks.
The agreements are part of the initial R153 billion pledged to South Africa by the International Partners Group.
The group includes the UK, the US, France, Germany and the rest of the European Union.
President Cyril Ramaphosa says less than 3% are in the form of grants, with the rest being loans.
