South Africa's government is still analysing details of a $8.5 billion financing package offered by rich Western nations last year to help the country shift away from coal, environment minister Barbara Creecy said on Tuesday.
The United States, Britain, France, Germany and the European Union pledged the funding during the COP26 climate conference in Glasgow, Scotland, last November. South Africa is the world's 12th biggest emitter of climate-warming gases and a major coal producer and user.
"I am not negative about the opportunities that this money presents, but I am realistic that we have to look at it properly and we shouldn't rush when looking at it properly. There is a lot of scepticism out there that it's only loan financing, that it's going to worsen our sovereign debt situation."
Creecy said South Africa was also considering the impact of the shift from coal on unemployment and poverty.
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