South Africa Gets Climate Finance Toward $1.5 Billion Water Fund
- Development bank gets $235 million from Green Climate Fund
- Plan is to use public, private money for water reuse programs
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A South African state development bank said it has received $235 million in finance from the Green Climate Fund, which it estimates will allow it to create a water reuse infrastructure fund six times that size.
The money will go toward a blended finance instrument, which combines public and private funds, to address South Africa’s growing water shortage by increasing the reuse of water, the Development Bank of Southern Africa and the GCF said in a statement on Tuesday.