PRETORIA\u2014 The European Union announced it would invest more than 280 million euros in grants in South Africa to help the country green its coal-dependent economy.<\/p>\n<\/p>\n
The money will \u201csupport policy reforms on green recovery, unlock green investments and build a knowledge-based transition,\u201d the bloc said in a statement.<\/p>\n<\/p>\n
\u201cTogether with South Africa, we are committed to a decarbonisation pathway,\u201d the EU\u2019s top diplomat, Josep Borrell, who is in Pretoria for talks, said in the statement.<\/p>\n<\/p>\n
Africa has become a renewed diplomatic battleground since the Ukraine war began, with South Africa and other countries on the continent aggressively courted by Russia and China and the West.<\/p>\n<\/p>\n
The EU said the money came as part of the bloc\u2019s recently unveiled Global Gateway initiative, which is in part aimed at countering China\u2019s growing influence.<\/p>\n<\/p>\n
South Africa has championed complaints from developing nations that too much of the climate change aid they receive from rich countries comes in the form of loans instead of grants.<\/p>\n<\/p>\n
Part of the EU funds will go towards the greening of municipal services and help repurpose coal power plants.<\/p>\n<\/p>\n
South Africa, one of the world\u2019s top 12 largest polluters, generates about 80 percent of its electricity through coal.<\/p>\n<\/p>\n
The grants add to $8.5 billion that the continent\u2019s most industrialised economy was pledged in 2021 by the EU the Britain, France, Germany and the United States.<\/p>\n<\/p>\n
US Treasury chief Janet Yellen, who was also in South Africa on Friday, said Washington is contributing more than $1-billion under the scheme dubbed the Just Energy Transition Partnership.<\/p>\n<\/p>\n
The US \u201cis firmly committed to this engagement,\u201d she said, as she visited the eastern Mpumalanga province, South Africa\u2019s coal mining hub.<\/p>\n<\/p>\n
Recent studies suggest more jobs will be created than lost in South Africa by going green, but analysts say the swap will not be painless.<\/p>\n<\/p>\n
\u201cWe must demonstrate quickly that these coal communities\u2026 will not be left behind in the context of an energy shift that benefits other regions,\u201d Yellen said after touring a US-funded renewable energy job training facility for women.<\/p>\n<\/p>\n
Source: NAM NEWS NETWORK<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
PRETORIA\u2014 The European Union announced it would invest more than 280 million euros in grants in South Africa to help the country green its coal-dependent economy.The money will \u201csupport policy reforms on green recovery, unlock green investments and bui…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"yoast_head":"\n