TIRI MASAWI
Namibia will access a loan facility of about N$33 billion loan (US$178 billion) from the African Development Bank(AFDB) between 2025 and 2030.
The Ministry of Finance confirmed the development in a statement released on Tuesday.
The ministry of finance said, “Government of Namibia welcomes AfDB Approval of Country Strategy Paper Covering the Period 2025 – 2030 and a Commitment of USS1.78 Billion Investment Approval Window for Namibia.”
According to the ministry of finance the facility comes through an approval of the Namibia Country Strategy Paper (CSP) by the African Development Bank Group’s Board of Directors.
“The Namibia Country Strategy Paper is a country engagement framework that outlines strategic priorities to drive the national development agenda through grants, loans and technical assistance. It is a 5-year plan, through which the country submits projects that need to be funded within the 5 years,” the statement said.
Government said they will use the money on key aspects including Infrastructure development:
“Investments in transport, energy, and water infrastructure will reduce business costs, enhance productivity, and position Namibia as a regional logistics hub. These improvements will strengthen trade under the African Continental Free Trade Area, expand renewable energy for energy security, and improve rural access to clean water and sanitation,” said the statement.
The government said they will also use a chunk of the money on human capital development.
“The strategy will boost technical and vocational training aligned with market needs, create pathways from education to employment, support micro, small, and medium enterprises (MSMEs), and advance women’s economic empowerment.
“CSP as a Financing Tool for Development Beyond its role as a strategic framework, the CSP serves as a powerful financing instrument for Namibia’s development agenda. By securing US$1.78 billion in concessional, any grants, technical assistance and market-based resources, the CSP enables the Government to leverage additional funding from other development partners and private investors through co- financing arrangements,” government said in a statement.
According to the treasury the money will also reduce fiscal pressure by channeling long-term, affordable financing into priority sectors without compromising macroeconomic stability, accelerate project implementation by providing predictable, multi-year funding aligned with
national priorities, enhance creditworthiness through structured partnerships with AfDB and improve Namibia’s ability to attract further investment for infrastructure and industrial development.
Government is also looking forward to other dedicated financing windows.
“ MSMEs will have access to tailored credit facilities and guarantee schemes under AfDB-supported programs, Capacity Building: Training and advisory services will help MSMEs improve productivity, adopt technology, and meet quality standards for regional and global markets,” the statement said.
The government said they will release details on MSME application processes and eligibility criteria through the Ministry of Finance and the Development Bank of Namibia.
“Expected Impact Implementation of the CSP is expected to contribute to the diversification of Namibia’s economy beyond mining and agriculture, integrate MSMEs into regional value chains, and enhance manufacturing capabilities while creating thousands of jobs. Infrastructure upgrades will increase electricity access from 59.5 percent toward universal coverage, improve trade connectivity with Angola and Zambia, and reduce logistics costs,” the statement said.
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