The UK has agreed to guarantee $2bn of the debt the African Development Bank
“That allows us to transfer some of our own assets, which we have on our sovereign loan books to the private sector,” he said. “It will allow us to free up $2bn of additional financing headroom for the bank.” Earlier this month, Bloomberg News reported that the UK is considering guaranteeing at least $1bn of SA debt as part of an $8.5bn climate finance deal designed to cut the nation’s reliance on coal and drive a shift to green energy, citing people familiar with the situation.
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