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SA gets R4.3 billion in climate finance to help establish water reuse fund | Business

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A South African state development bank said it has received $235 million (R4.3 billion) in finance from the Green Climate Fund, which it estimates will allow it to create a water reuse infrastructure fund six times that size. | News24_Business

The money will go toward a blended finance instrument, which combines public and private funds, to address South Africa’s growing water shortage by increasing the reuse of water, the Development Bank of Southern Africa and the GCF said in a statement on Tuesday. "At the core of the WRP is a blended finance solution that brings together private and public sector players," the institutions said in the statement.

The DBSA requested a mixture of loans and grants from the GCF when it made its application. Some $200 million will be in the form of a loan, while the remaining $35 million is a grant, according to the GCF website. In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.

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