By Staff Writer
Germany will give €700 million (R12.5 billion) towards helping South Africa phase out the use of coal, the German delegation at the COP26 climate talks in Glasgow, Reuters reported.
The aim of the funding is to mobilize a total of R130 billion together with the World Bank and private investors to promote developing renewable energy sources in the country, said Maria Flachsbarth, Germany’s parliamentary state secretary for development aid.
The money would also be used to expand and modernize electricity networks and help miners deal with the economic consequences of the phase-out there.
