Just Energy Transition
The National Treasury in South Africa has recently announced that the country has signed bilateral loan agreements with the World Bank, German state-owned development bank Kreditanstalt für Wiederaufbau (KfW), and the African Development Bank (AfDB).
The purpose of these agreements is to support South Africa’s Just Energy Transition.
Under these agreements, South Africa will receive concessional financing, including a $1 billion loan from the World Bank, €500 million from KfW, and an additional $300 million from the AfDB. These loans are directly provided to the National Treasury for general budget expenditure purposes.
This financing is aligned with the National Treasury’s strategy to diversify its funding mix for international borrowing and access concessional financing instruments offered by development partners. It also supports the government’s key reforms in addressing climate change and the electricity sector.
One of the major benefits of these loan agreements is that they enable the National Treasury to raise funds at affordable rates, which helps in reducing the government’s public debt. In addition, the agreements signify excellent collaborative efforts between the Government of Germany, the World Bank, AfDB, and the South African government.
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