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2025-12-03 14:07:20
[UK Plans to Extend $1 Billion Debt Guarantee for South Africa to Support its Green Energy Transition] 1. According to foreign media reports, the British government plans to extend a $1 billion debt guarantee to assist South Africa in its green economic transition. This guarantee was originally part of an $8.3 billion climate finance agreement reached in 2021 between South Africa and several developed countries, aimed at helping South Africa reduce its dependence on coal—currently, coal-fired power accounts for about 80% of the country's total electricity generation. 2. Although the guarantee has not been fully utilized before its expiration, and South Africa's overall transition process has slowed due to a lack of suitable projects, other countries participating in the "Just Energy Transition Partnership" have gradually implemented their support. Germany and France have provided concessional loans to the South African Treasury, and all participating countries have also disbursed grants to support related projects.
