Considerable funding is needed to scale up 6 alternative waste management projects in South Africa, to include a further 20-30 local municipalities, with the potential of diverting over 1 million tonnes of waste away from South African landfills per annum. Total capital outlay requirements for 30 projects are in the order of $75mil over a period of 4-5 years, which cannot be wholly funded by the South African Government, nor the participating municipalities.
We assisted in developing a Green Climate Fund (GCF) Concept Note, which included a programme-oriented financial model that is designed to highlight (1) investment attractiveness to government and (2) financial affordability to the participating municipalities. The concept note application is therefore seeking once-off project preparation funding in the order of $1mil, and project financing of around $50mil, both from the GCF. These funds may come in the form of a full grant, or include a small portion of concessionary loan financing, depending on the balance sheets of the participating municipalities.