The Netherlands and Denmark will help create a $1 billion (R18.33bn) green hydrogen fund for investment in South African projects, according to the CEO of DBSA_Bank. Moneyweb BetterAfricaBetterWorld NetherlandsInSA 🇳🇱 DenmarkInSA 🇩🇰
The Netherlands and Denmark will help create a $1 billion green hydrogen fund for investment in South African projects, according to the chief executive officer of the Development Bank of Southern Africa. The fund, a first for South Africa, will also receive contributions from the DBSA and the Industrial Development Corp of South Africa, which are both state finance institutions, Sanlam, and the Hague-based Climate Fund Managers, Boitumelo Mosako said in an interview in Pretoria on Tuesday.
“This is a first and others will follow,” Mosako said, adding that it would add a blended finance facility, intended to catalyze more private-sector investment in the industry. The planned fund comes as South Africa prepares to implement an $8.5 billion climate finance pact with some of the world’s richest countries as it seeks to transition away from the use of coal.
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