Cold War Relic to Give Billions To South Africa for Green Energy Scheme

The Export-Import Bank is set to give $2 billion to South Africa for wind and solar investment.

The US Export-Import Bank is to sign a $2 billion deal with South Africa to fund a green energy scheme in the electricity-short country, the bank's chief said Monday.

"We are signing an agreement tomorrow for $2 billion for renewable energy exports from the US to South Africa," the bank's president Fred Hochberg told reporters.