France, Germany Grant SA JET Concessional Financing: SouthAfrica JustEnergyTransition COP27 AfricaClimateCrisis
In a statement, Treasury said the French and German public development banks, AFD and KfW, have provided the loans directly to the South African government via National Treasury.
"The JETP is a long-term partnership between South Africa, France, Germany, the United Kingdom, United States, and the European Union. The first initiative of its kind, the JETP aspires to support South Africa in accelerating its journey to a low-carbon economy and climate-resilient society," said Treasury.
South Africa continues to be dependent on coal to produce most of its electricity and the coal sector remains significant to the country's national economy and the livelihood of several communities.
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