South Africa Seeks to Renegotiate Coal Pact Tied to $2.6 Billion – Bloomberg

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Asia Pacific+65 6212 1000
South Africa is seeking to alter the terms of a landmark agreement under which it promised to cut its reliance on coal in exchange for access to financing.
The government of President Cyril Ramaphosa is pushing to renegotiate a deal with Climate Investment Funds (CIF), a group tied to the World Bank, so that it won’t be required to close three coal-fired power plants in the coming years. The plants, owned and operated by Eskom Holdings SOC Ltd., are among the country’s biggest polluters, according to government advisers.

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