South Africa's government is still analysing details of a $8.5 billion financing package offered by rich Western nations last year to help the country shift away from coal, environment minister Barbara Creecy said on Tuesday.
The United States, Britain, France, Germany and the European Union pledged the funding during the COP26 climate conference in Glasgow, Scotland, last November. South Africa is the world's 12th biggest emitter of climate-warming gases and a major coal producer and user.
"I am not negative about the opportunities that this money presents, but I am realistic that we have to look at it properly and we shouldn't rush when looking at it properly. There is a lot of scepticism out there that it's only loan financing, that it's going to worsen our sovereign debt situation."
Creecy said South Africa was also considering the impact of the shift from coal on unemployment and poverty.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump Wanted to Shut Down Every U.S. Embassy in Africa, Former Defense Secretary SaysMark Esper’s new book has provided a wealth of insight into the unhinged, dangerous, and often racist directives the former president issued while in office
Read more »
Paradigm Enters Africa With $30M Round for ‘Super App’ JamboCrypto investing giant paradigm has entered Africa, leading the $30 million round for Web 3 “super app” JamboTechnology. BrandyBetz reports.
Read more »
Sophistication (Way) South of the Border: Santiago and Valparaiso ChileThe two large cities in the center of Chile, Santiago and Valparaiso, have a lot of charm and a style all their own. Here are my travel tips.
Read more »
Gas Prices Hit All-Time High In Pennsylvania, South Jersey And DelawareFor the first time ever, gas prices hit new record highs in Pennsylvania, South Jersey, and Delaware - all on the same day.
Read more »
South Carolina boy trapped in 40 foot well rescued by firefighters after clinging to pipesA teenager in South Carolina was rescued by firefighters after being trapped 40-feet into a well.
Read more »
Yoon Suk-yeol sworn in as new South Korea presidentYoon Suk-yeol calls for 'complete denuclearisation' of North Korea, saying in his first speech as president that Pyongyang's weapons programmes were a threat to global security.
Read more »