# South Africa has secured just over 10.4-billion-rand loan from Germany’s KfW Development Bank to support the country’s efforts to shift to a low-carbon economy. The agreement builds on two other loans concluded in 2022 and 2023 and forms part of Germany’s pledge at the COP26 Climate Change Summit to support South Africa’s shift away from its reliance on fossil fuels. Finance minister Enoch Godongwana says the loan will strengthen the country’s short- and medium-term energy security measures and promote decarbonisation.
SA secures a R10.4-billion loan from Germany to support the country’s just energy transition