US stalls $2.6bn climate finance package for South Africa
The US is stalling the distribution of $2.6-billion in climate finance to South Africa, stoking concerns the money might be blocked outright, people familiar with the situation said. At a meeting earlier this month, US representatives prevented the World Bank-linked Climate Investment Funds from approving a $500-million disbursement to South Africa, two of the people said, asking not to be identified because a public announcement hasn’t been made on the matter.
The US is stalling the distribution of $2.6-billion in climate finance to South Africa, stoking concerns the money might be blocked outright, people familiar with the situation said. At a meeting earlier this month, US representatives prevented the World Bank-linked Climate Investment Funds from approving a $500-million disbursement to South Africa, two of the people said, asking not to be identified because a public announcement hasn’t been made on the matter.
