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Top related persons:
Siphiwe - 1 Marie Francoise Marie - 1 Nelly - 1 Marie - 1 Eskom - 1 Rachel Savage - 1 Jorgelina - 1 Kopano Gumbi - 1
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Emalahleni Mpumalanga province South Africa MARRAKECH Morocco Marrakech Africa Rosario
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REUTERS - 1 World - 1 Bank - 1 South - 1 World Bank - 1 Thomson - 1

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4 mentions found


☆ South Africa may get $1 billion loan from World Bank to tackle power crisis
  + stars: | 2023-10-14 | by ( Rachel Savage Jorgelina Do Rosario | Rachel Savage | Jorgelina Do Rosario | ) www.reuters.com   time to read: +2 min
A child collecting chunks of coal looks on at a colliery while smoke rises from the Duvha coal-based power station owned by state power utility Eskom, in Emalahleni, in Mpumalanga province, South Africa, June 2, 2021. South Africa is facing its worst power crisis, with Eskom's ageing, coal-fired plants often breaking down. "It's a policy development loan which supports critical reforms," Marie-Nelly said of the potential World Bank funding. The World Bank loan would also support South Africa to make a "just transition" away from coal, to ensure vulnerable people do not suffer as a result, Marie-Nelly said. In November 2022, the World Bank approved $497 million in financing to decommission and repurpose one of Eskom's coal-fired power plants.
Persons: Siphiwe, Marie Francoise Marie, Nelly, Marie, Eskom, Rachel Savage, Jorgelina, Kopano Gumbi, Mark Potter, Mike Harrison Organizations: REUTERS, World, Reuters, Bank, South, World Bank, Thomson Locations: Emalahleni, Mpumalanga province, South Africa, MARRAKECH, Morocco, Marrakech, Africa, Rosario
☆ Janet Yellen Warns South Africa About Breaching Russia Sanctions
  + stars: | 2023-01-27 | by ( Andrew Duehren | ) www.wsj.com   time to read: 1 min
EMALAHLENI, South Africa—Treasury Secretary Janet Yellen warned South African officials about the consequences of violating U.S. sanctions, as the Biden administration tries to balance its response to Russia’s invasion of Ukraine with a broader effort to deepen ties with African governments. Ms. Yellen and some of her senior international-affairs and sanctions staff have been meeting this week with top South African officials, including President Cyril Ramaphosa , on the final stop of a three-country tour in Africa. The trip, which overlapped with visits to Africa’s most developed economy by the foreign-policy chiefs of both Russia and the European Union, comes after U.S. officials raised concerns over the South African government’s ties to Moscow.
☆ Yellen to meet with donors, private sector on South Africa's energy transition
  + stars: | 2023-01-27 | by ( Andrea Shalal | ) www.reuters.com   time to read: +3 min
[1/3] U.S. Treasury Secretary Janet Yellen attends media briefing ahead of bilateral talks with South Africa's Finance Minister Enoch Godongwana (not pictured), at the treasury offices in Pretoria, South Africa, January 26, 2023. The United States, Britain, France, Germany and the European Union backed South Africa's "Just Energy Transition Partnership," or JETP, in late 2021 with a combined $8.5 billion, but the total cost could be ten times that high. "The United States' commitment to the energy transition being 'just' is firm. That is why President Biden made an additional commitment to President Ramaphosa of $45 million in grant funding to support South Africa’s efforts," Yellen said. But President Cyril Ramaphosa's plan to transition South Africa away from coal and towards renewable energy has divided the governing African National Congress (ANC).
☆ Yellen says South Africa needs action to maintain energy transition momentum
  + stars: | 2023-01-27 | by ( Andrea Shalal | ) www.reuters.com   time to read: +5 min
[1/3] U.S. Treasury Secretary Janet Yellen attends media briefing ahead of bilateral talks with South Africa's Finance Minister Enoch Godongwana (not pictured), at the treasury offices in Pretoria, South Africa, January 26, 2023. REUTERS/Siphiwe SibekoJOHANNESBURG, Jan 27 (Reuters) - South Africa needs concrete action soon if it is to maintain momentum on an energy transition program backed by the United States and other countries, U.S. Treasury Secretary Janet Yellen said on Friday after visiting the coal mining region of Mpumalanga. She expressed hope that Washington's focus on a just energy transition would underpin donor interest in backing the nearly $100 billion project aimed at supporting South Africa's gradual phasing out of fossil fuels. The United States, Britain, France, Germany and the European Union have backed South Africa's "Just Energy Transition Partnership" with a combined $8.5 billion, which Yellen called a "substantial down payment" designed to mobilise additional money. "An energy transition that is not just will simply not work.
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