S. Africa Gets €500 Million German Loan for Fossil-Fuel Move
South Africa got a €500 million ($582 million) loan from Germany to help it fund its shift away from its reliance on fossil fuels.
The German Society for International Cooperation known as GIZ — through state owned lender KfW — will provide the 13-year facility with a three-year grace period at a fixed rate of 4.31%, South Africa’s National Treasury said in a statement Monday.