US stalls US$2.6bil package for South Africa

Solar panels are seen near the cooling towers of a retired coal-fired Komati Power Station, operated by Eskom, near Komati village, in the Mpumalanga province in South Africa, May 9, 2024. REUTERS/Siphiwe Sibeko/File Photo

WASHINGTON: The United States is stalling the distribution of US$2.6bil in climate finance to South Africa, stoking concerns the money might be blocked outright, according to sources.

Earlier this month actions by US representatives prevented the World Bank-linked Climate Investment Funds (CIF) from approving a US$500mil disbursement to South Africa, said the sources.