STAFF WRITER
African Development bank AfDB Deputy Director General for Southern Africa, Moono Mupotola says the bank has funded projects in excess of US$ 600 million (approximately N$9.6 billion) in the past five years – helping to drive the country’s infrastructure development.
Mupootola described the AfDB as a proud partner of Namibia since shortly after independence.
“ Over the years, we have supported investments and reforms in agriculture, transport, energy, water and sanitation and public sector capacity. This long-standing partnership provides us with valuable perspectives and reinforces our shared responsibility to continue strengthening Namibia’s development trajectory,” Mupootola said..
The regional director said the African Development Bank’s engagement in Namibia has been both substantial and multifaceted with total commitments of approximately US$600 million.
“This includes US$300 million in sovereign and non-sovereign financing, supporting heat infrastructure and sector investments, about US$80 million of lending finance and risk-sharing facilities aimed at mobilising private capital and about US$70 million in grants and technical assistance to support policy reform and strengthen institutional capacity,” Mupootola said.
The largest share of the bank’s funding has supported energy, transport, connectivity and water and sanitation,while additional support has been directed to agricultural value chains, climate resilience, SME finance, and public, national, regional and state-level enterprise advisory work.
Mupootola said the Namibia Country Strategy Paper 2020-2030 was shaped through extensive consultations with various stakeholders.
The strategy puts emphasis on investing in quality and sustainable infrastructure to support resilient and resilient growth, emphasis on transport, water and energy sectors.
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