Germany Extends €500 Million Loan to Africa’s Wealthiest Nation for Fossil Fuel Transition
In a significant stride towards sustainability, Germany has committed a substantial €500 million (approximately $582 million) loan aimed at fostering South Africa’s transition from fossil fuels. This move marks a deepening of Germany's financial involvement in South Africa’s decarbonization framework, known as the Just Energy Transition Partnership (JETP).
The loan is structured as a 13-year facility, disbursed through KfW, the German state-owned development bank, and managed by the German Society for…