By Faridat Salifu
The United States is postponing the release of a $2.6 billion climate finance package for South Africa, raising fears that the funds may be withheld entirely, according to a report by Bloomberg News.
U.S. representatives recently blocked a $500 million disbursement from the World Bank-linked Climate Investment Funds (CIF), which was crucial for unlocking an additional $2.1 billion from other multilateral development banks.
A new effort to secure approval for this funding is expected to take place during CIF meetings scheduled for June.
The U.S. Treasury has refrained from commenting on the situation, and the CIF has not responded to requests for clarification.
CIF is one of the largest multilateral funds dedicated to advancing climate solutions in developing nations.
If this delay is confirmed, it would align with previous actions by the Trump administration to reduce U.S. involvement in international climate initiatives, including its recent withdrawal from the board of the United Nations’ climate damage fund aimed at assisting vulnerable countries facing climate-related challenges.