Pretoria, South Africa – (African Boulevard News) – South Africa has partnered with the Netherlands and Denmark to launch a green fund aimed at financing green infrastructure projects in the country. The fund is set to raise up to $890 million over the next five years, enabling South Africa to produce hydrogen for use in aviation, green steel, transport and more, as well as for export to the European Union.
The South African Minister of Environment, Forestry and Fisheries, Barbara Creecy, said that the fund would help the country to meet its carbon emissions targets, while also creating jobs and boosting economic growth. “We are excited about this partnership and the opportunities it presents for South Africa to transition to a low-carbon economy while also achieving our developmental goals,” she added.
The Netherlands Ambassador to South Africa, Han Peters, said that the fund would help to bridge the gap between the private sector and the public sector in terms of funding for green initiatives. “The fund will provide a platform for collaboration between the public and private sectors, facilitating the development of innovative green projects and creating jobs,” he explained.
According to the South African government, the fund will focus on renewable energy, energy efficiency, sustainable transport, waste management, and water conservation. It will provide loans, equity, and guarantees to companies and projects that meet the fund’s eligibility criteria.
The launch of the green fund follows South Africa’s commitment to achieving net-zero carbon emissions by 2050. Earlier this year, President Cyril Ramaphosa announced plans to phase out coal-fired power stations and invest in renewable energy sources such as wind and solar power.
The Netherlands and Denmark are among the world leaders in renewable energy, with both countries aiming to achieve 100% renewable energy by 2050. The green fund partnership is part of a wider collaboration between the three countries to promote sustainable development in Africa.
“The launch of this fund is a significant step towards achieving our shared vision of a sustainable and prosperous future for Africa,” said Danish Ambassador to South Africa, Tobias Elling Rehfeld. “We look forward to working closely with our partners in South Africa and the Netherlands to drive the transition towards a low-carbon economy and create a better future for all.”
The green fund is expected to attract significant interest from investors, both in South Africa and abroad. By financing green infrastructure projects, it will help to create a more sustainable and resilient future for South Africa, while also contributing to global efforts to combat climate change.
