EIB Global, the development arm of the European Investment Bank, has signed a €350 million loan agreement with South Africa’s state-owned logistics company Transnet to support upgrades to the country’s transport infrastructure.
The agreement was signed in Johannesburg in the presence of South African President Cyril Ramaphosa and European Commission President Ursula von der Leyen.
The financing, backed by a €21 million European Union grant, will be used to renew and repair port and freight rail infrastructure and support assets linked to the development of a green hydrogen value chain.
The project is part of South Africa’s Just Energy Transition Partnership and aligns with the European Union’s Global Gateway strategy.
EIB Vice-President Ambroise Fayolle said the investment would help strengthen transport links and support a fair transition to cleaner infrastructure. Transnet CEO Michelle Phillips said the funding would help modernise ports and railways, cut emissions and improve the efficiency of moving goods.
