South Africa has secured a loan of 345.78 million from the French Development Agency AFD as part of a larger financing commitment from France and Germany, reports Cape town Etc .
Each nation is extending 300 million in concessional financing to support South Africa's efforts in reducing its dependence on coal while advancing its Just Energy Transition JET ambitions.
The loan agreements were officially signed during a ceremony at the 27th United Nations Climate Change Conference COP27 in Sharm El Sheikh, Egypt, an event marked by the presence of key leaders, including South African President Cyril Ramaphosa, French President Emmanuel Macron, and German Chancellor Olaf Scholz.