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Decision nears on $2.6bn of green funds for South Africa
A decision on a disbursement by the World Bank-linked Climate Investment Funds that would trigger a $2.6-billion green-finance package for South Africa may be made as early as Friday, people with knowledge of the matter said. The CIF, which is backed by money from 15 of the world’s richest nations, is considering a $500-million payment to South Africa to help it transition away from the use of coal, the dirtiest fossil fuel. If granted, that would unlock a further $2.1-billion in funding from multilateral development banks and other sources.
A decision on a disbursement by the World Bank-linked Climate Investment Funds that would trigger a $2.6-billion green-finance package for South Africa may be made as early as Friday, people with knowledge of the matter said. The CIF, which is backed by money from 15 of the world’s richest nations, is considering a $500-million payment to South Africa to help it transition away from the use of coal, the dirtiest fossil fuel. If granted, that would unlock a further $2.1-billion in funding from multilateral development banks and other sources.
