www.bloomberg.com
South Africa is hesitant to access billions of dollars in international climate finance due to prohibitive costs and restrictive conditions. Electricity Minister Kgosientsho Ramokgopa warned that loans provided by wealthy nations come with high interest rates and strict “strings attached,” making them financially unsustainable. While the country aims to transition away from coal and stabilize its energy grid, the government is wary of accumulating unmanageable debt. Consequently, South Africa may prioritize domestic funding or seek grants rather than expensive loans to finance its energy transition.
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