| Project Detail |
Namibia faces major economic challenges, including limited diversification, low attractiveness for private investment and high dependence on international trade. To address these challenges, the government is focusing on innovation, skills development and value chain integration. Against this backdrop, in November 2023, the Development Bank of Namibia (DBN) requested 1.5 billion rand in financing from the Bank, backed by a sovereign guarantee, to support projects in strategic sectors. The project contributes to climate finance, with 40 million USD of the total approved amount dedicated to adaptation. Project Objectives The project includes a state-guaranteed line of credit to improve access to renewable energy and support manufacturing, social protection and agricultural value chains. It also includes a We-Fi grant from AFAWA: (i) to facilitate financing for women-owned/led SMEs and (ii) in technical assistance to strengthen gender mainstreaming, skills development and the financial ecosystem, in order to increase access to credit for Namibian women entrepreneurs. Beneficiaries DBN support will strengthen agricultural value chains, supporting processing, storage and distribution to improve productivity and food security, benefiting farmers, SMEs and local communities. Renewable energy projects will expand access to clean, affordable energy, reducing the countrys energy dependency and promoting rural development. |
