French development financier Agence Française de Développement (AFD) expects to disburse €1.3-billion in funding support to South African projects in the coming five years as part of a newly approved operational strategy for the country.
AFD says the funding will take the form of non-sovereign loans, grants for capacity building and technical assistance, as well as guarantees.
“We’ve committed more than €2.3-billion in loans since we started operations in South Africa in 1994 with 44% dedicated to improvement in access to basic services and 55% dedicated to the fight against climate change,” regional director in Southern Africa Martha Stein-Sochas said in a statement.
For the period 2017 to 2020, AFD will target projects with a high social impact, including those focusing on inclusive urban development, South Africa’s energy transition and/or providing disadvantaged youth with access to higher education and vocational training.
