{"id":61079,"date":"2024-02-16T17:13:43","date_gmt":"2024-02-16T17:13:43","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-in-talks-with-euro-investment-bank-for-transnet-handout"},"modified":"2024-02-16T17:42:53","modified_gmt":"2024-02-16T17:42:53","slug":"south-africa-in-talks-with-euro-investment-bank-for-transnet-handout","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-in-talks-with-euro-investment-bank-for-transnet-handout","title":{"rendered":"South Africa in talks with Euro Investment Bank for Transnet handout"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>The European Investment Bank said it\u2019s in talks to loan South Africa money to upgrade its port and freight-rail infrastructure as its first contribution to a decarbonisation pact known as the Just Energy Transition Partnership.<\/p>\n

The loan, the size of which the EIB didn\u2019t disclose, is part of its \u20ac1 billion (R20 billion) commitment to the JETP, it said in a response to queries on Thursday.<\/p>\n

The agreement to help South Africa transition away from the use of coal consists of $8.8 billion (R147 billion) in climate finance pledged by the European Union via the EIB, France, Germany, the US, the UK, the Netherlands and Denmark.<\/p>\n

\u201cThis potential investment would aim to support South Africa\u2019s ambitious decarbonization efforts under the JETP while boosting economic growth through more efficient and reliable freight transport,\u201d the EIB said.<\/p>\n

The loan talks come at a time when South African shipments of coal and iron ore, two of its biggest exports, are being constrained by an unreliable freight-rail system, and fruit destined for overseas markets is rotting in some of the world\u2019s most inefficient ports.<\/p>\n

EIB loans are made \u201cat a favourable rate\u201d and would possibly be complemented by grant finance from the European Commission, the bank said.<\/p>\n

South Africa\u2019s National Treasury and Transnet, its state logistics company, didn\u2019t respond to requests for comment.<\/p>\n

The JETP, which was agreed in 2021, is seen as a prototype for similar agreements between some of the world\u2019s richest nations and coal-dependent nations such as Indonesia and Vietnam.<\/p>\n

South Africa, which relies on coal for more than 80% of its power, is also aiming to boost its output of renewable energy, expand its transmission grid and develop electric-vehicle and green-hydrogen industries.<\/p>\n

In November and December, in agreements separate from the JETP, the EIB agreed to lend the state-owned Development Bank of Southern Africa \u20ac300 million (R6.1 million) so that it can finance private-sector renewable energy projects in South Africa.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. The European Investment Bank said it\u2019s in talks to loan South Africa money to upgrade its port and freight-rail infrastructure as its first contribution to a decarbonisation pact known as the Just Energy Transition Partnership. The loan, the size of which the EIB didn\u2019t disclose, is part of its \u20ac1 billion (R20 […]<\/p>\n","protected":false},"author":84,"featured_media":61077,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-61079","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nSouth Africa in talks with Euro Investment Bank for Transnet handout - South Africa<\/title>\n<meta name=\"description\" content=\"The European Investment Bank said it\u2019s in talks to loan South Africa money to upgrade its port and freight-rail infrastr ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-in-talks-with-euro-investment-bank-for-transnet-handout\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Africa in talks with Euro Investment Bank for Transnet handout\" \/>\n<meta property=\"og:description\" content=\"The European Investment Bank said it\u2019s in talks to loan South Africa money to upgrade its port and freight-rail infrastr ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-in-talks-with-euro-investment-bank-for-transnet-handout\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-16T17:13:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-16T17:42:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/02\/sm_1708092379.175941.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"659\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-in-talks-with-euro-investment-bank-for-transnet-handout#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-in-talks-with-euro-investment-bank-for-transnet-handout\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"South Africa in talks with Euro Investment Bank for Transnet handout\",\"datePublished\":\"2024-02-16T17:13:43+00:00\",\"dateModified\":\"2024-02-16T17:42:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-in-talks-with-euro-investment-bank-for-transnet-handout\"},\"wordCount\":345,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-in-talks-with-euro-investment-bank-for-transnet-handout#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/02\/sm_1708092379.175941.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-in-talks-with-euro-investment-bank-for-transnet-handout#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-in-talks-with-euro-investment-bank-for-transnet-handout\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-in-talks-with-euro-investment-bank-for-transnet-handout\",\"name\":\"South Africa in talks with Euro Investment Bank for Transnet handout - 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