South Africa and Switzerland have concluded a $3.5 million Sustainable Long-Term Finance Facility (SFF), with the Swiss State Secretariat for Economic Affairs (SECO) and the World Bank.
Over the last two decades, China has channelled modest but rising volumes of loans through African financial institutions for trade, infrastructure, SMEs and more.
In a statement, the Finance Ministry said the purpose of the facility is to leverage private finance to address South Africa’s Sustainable Development Goals (SDGs) and the climate-linked energy transition.