South Africa aims to meet with other governments and multilateral finance institutions on the sidelines of the upcoming COP26 gathering to progress talks on raising concessional funding, in phases, for a Cabinet-endorsed ‘Just Transition Financing Facility’ to fund green projects in the electricity, automotive and hydrogen sectors. As part of the first phase, South Africa is proposing a multitranche, multiyear facility, funded by a multilender syndicate, to fund decarbonisation and green projects.
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