07-07-2025
African Development Bank approves $474.6mln loan to support South Africa's infrastructure governance, green growth
PRETORIA: The Board of Directors of the African Development Bank Group has approved a $474.6 million loan for South Africa's Infrastructure Governance and Green Growth Programme (IGGGP). This financing marks a significant milestone in the country's transition toward a sustainable, low-carbon economy, TV BRICS reported.
This IGGGP is the second phase of the Bank's strategic support for South Africa's Just Energy Transition. It builds on the success of the $300 million Energy Governance and Climate Resilience Programme, approved in 2023, which delivered key reforms that bolstered financial stability and increased renewable energy capacity.
Structured around three interconnected pillars: enhancing energy security through power sector restructuring, supporting a low -carbon and just transition, and improving transport efficiency – the IGGGP is designed to accelerate South Africa's green transformation and promote inclusive, resilient growth.
