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Development banks will ‘play a role’ in SA’s $8.5bn climate finance plan

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The UK co-ordinating the partner countries and is also leading the involvement of development finance institutions in the partnership deal

After many months of negotiations, the details about the investment plan for $8.5bn in climate finance pledged to SA by the governments of rich nations at COP26 in Glasgow, Scotland, in 2021, are now eagerly anticipated following the cabinet’s endorsement of the plan earlier this week.

At a media briefing on Thursday after a cabinet meeting, minister in the presidency Mondli Gungubele said the Just Energy Transition Partnership Investment Plan was accepted by the cabinet. He would not expand on details of the plan saying that a briefing would be held soon to elaborate on the “funding challenges in taking forward that plan”...

 

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