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UK Weighs $1 Billion Guarantee for S. Africa Shift From Coal (1)

June 1, 2022, 9:23 AM

The UK is considering guaranteeing at least $1 billion of South African debt as part of a deal designed to cut the nation’s reliance on coal and drive a shift to green energy.

Further negotiations are taking place over how the guarantee will work, with some of it to apply to debt provided by the African Development Bank, said people familiar with the matter, asking not to be identified as the talks aren’t public.

The guarantee is part of a larger $8.5 billion funding package proposed by the UK, US, Germany, France and the European Union. That deal -- ...