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World Bank grants South Africa a $1.5B loan for infrastructure upgrade and green energy transition

The loan aims to ease blackouts and boost jobs as South Africa tackles slow growth.

The World Bank has granted South Africa a $1.5 billion loan aimed at improving transport and energy infrastructure and supporting a shift toward a low-carbon economy. The government hopes the funds will help ease blackouts, clogged ports, and high unemployment. Finance officials say the loan’s favorable terms will ease debt pressure. The aid comes as South Africa also grapples with reduced U.S. funding for its HIV programs following foreign aid cuts.

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https://apnews.com/article/south-africa-infrastructure-energy-transportation-world-bank-ceb8af11c31241e9508ec612fccdc2a5