STAFF WRITER
The Development Bank of Namibia says the N$18 million about US$1 million Readiness Grant they received from the Green Climate Fund (GCF) under the GCF Readiness and Preparatory Support Programme will unlock potential in climate financing.
Chief Marketing & Corporate Affairs Officer, Jerome Mutumba said the grant reinforces DBN’s role as a national vehicle for climate finance mobilisation.
“This milestone strengthens DBN’s ability to unlock climate finance and direct it towards impactful investments that support Namibia’s transition to a resilient and low-carbon economy. It also creates an opportunity to crowd in private sector participation and scale up climate-related investments across key sectors,” he said.
The bank said the grant marks a significant milestone in strengthening Namibia’s climate finance ecosystem and positions DBN to play a greater role in mobilising investment for climate-resilient and low-carbon development initiatives.
The approved programme, titled “Strengthening Institutional Capacity and Catalysing Private Sector Climate Investments in Namibia,” will be implemented over the period 2026–2027 and represents a critical step in operationalising DBN’s GCF accreditation pathway.
The readiness support will enable the Bank to strengthen its institutional capacity, systems and technical readiness to effectively mobilise and manage climate finance. In addition, the programme will focus on catalysing private sector participation in climate mitigation and adaptation investments, while supporting the development of a pipeline of bankable and investment-ready climate projects.
A key outcome of the programme will be the preparation of high-quality concept notes and funding proposals for submission to the Green Climate Fund. Through its accreditation, DBN has the potential to directly access up to USD 250 million in climate finance from the GCF to support transformative climate initiatives across Namibia.
Over the implementation period, the Bank will engage a wide range of stakeholders through targeted outreach, capacity-building initiatives, and collaborative platforms aimed at strengthening participation in climate finance. These efforts will support the development of innovative solutions across sectors, while ensuring that local institutions and businesses are better positioned to access funding opportunities.
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