As Team Europe, the EU and its Member States will invest more than €280 million in grants in South Africa, including €87.75 million from the EU budget, to support policy reforms on green recovery, unlock green investments, and build a knowledge-based transition in the framework of the Just and Green Recovery Team Europe Initiative for South Africa launched in Pretoria as part of Global Gateway.
Through this partnership with South Africa, the Just and Green Recovery Team Europe Initiative will support the country in achieving its national goal to tackle the country’s pressing socio-economic challenges through policy dialogue, facilitating investment, including for public infrastructure, and unlocking a sustainable, biodiversity-friendly and circular economy and combat climate change.
”The fight against climate change is a global responsibility. The European Union wants to work with its partners around the world, in addressing this threat together – so our future generations can live on a safe and prosperous planet. Together with South Africa, we are committed to a decarbonization pathway. The EU and its Member States will continue to partner with South Africa to implement the Just Energy Transition Partnership and make this journey just, not least with the Team Europe Initiative we are launching, ”High Representative/Vice-President Josep Borrell
For example, €40 million of EU grant funding will be used to facilitate investment in public infrastructure in South Africa through blended finance. The EU will also support projects to boost the greening of municipal services across South Africa. EU member states will also work on the repurposing of coal power plants for the green transition, improving energy efficiency in public buildings, and accelerating circular economy start-ups.
Additionally, under the Just Energy Transition Partnership (JETP), Germany, France, and the EU will provide financing of more than $3 billion to South Africa. The JETP will contribute to the objectives of the Team Europe Initiative for Just and Green Recovery. Both will be mutually reinforcing.