Germany will give 700 million euros (US$811.65 million) towards helping South Africa phase out the use of coal, the German delegation at the COP26 climate talks in Glasgow said on Tuesday.
The aim is to mobilize a total of US$8.5 billion together with the World Bank and private investors to promote developing renewable energy sources in the country, said Maria Flachsbarth, Germany’s parliamentary state secretary for development aid.
The money would be also used to expand and modernise electricity networks and help miners deal with the economic consequences of the phase out.
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