Africa-Press – Namibia. THE African Development Bank (AfDB) has approved a loan of N$2,3 billion to Namibia to support resilience and recovery after Covid-19.
THE African Development Bank (AfDB) has approved a loan of N$2,3 billion to Namibia to support resilience and recovery after Covid-19.
These funds will be disbursed under the country’s Governance and Economic Recovery Support Programme (GERSP II).
German development bank Kreditanstalt für Wiederaufbau (KfW) is processing a complementary budget support loan to the tune of 50 million euros (N$877 million).
The programme has three components: attaining fiscal sustainability, supporting private sector-led agriculture and industrial sector transformation, and enhancing economic and social inclusion.
The approval follows an earlier loan tranche of N$1,5 billion, which the board approved for the programme’s first phase in March 2021.
The International Monetary Fund contributed N$4,1 billion in co-financing for phase 1 through the Rapid Financing Instrument.
The programme’s primary beneficiaries are government ministries, departments, and agencies of which the reforms are being supported by the operation.
The private sector will benefit from improved investment opportunities in agriculture and industry and public-private partnership opportunities.
These funds will be disbursed under the country’s Governance and Economic Recovery Support Programme (GERSP II).
German development bank Kreditanstalt für Wiederaufbau (KfW) is processing a complementary budget support loan to the tune of 50 million euros (N$877 million).
The programme has three components: attaining fiscal sustainability, supporting private sector-led agriculture and industrial sector transformation, and enhancing economic and social inclusion.
The approval follows an earlier loan tranche of N$1,5 billion, which the board approved for the programme’s first phase in March 2021.
The International Monetary Fund contributed N$4,1 billion in co-financing for phase 1 through the Rapid Financing Instrument.
The programme’s primary beneficiaries are government ministries, departments, and agencies of which the reforms are being supported by the operation.
The private sector will benefit from improved investment opportunities in agriculture and industry and public-private partnership opportunities.
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