Africa-Press – Namibia. THE Sustainable Utilisation of Natural Resources and Energy Financing (Sunref) facility, a 45-million euro line of credit that has been operational in Namibia for four years, was officially closed on Thursday last week.
The facility, funded by the French Development Agency (AFD) and the Environmental Investment Fund of Namibia (EIF) as the host of the technical assistance facility to the programme, provided a line of credit to Bank Windhoek, the First National Bank of Namibia and Nedbank Namibia.
According to a statement from the AFD and EIF, the facility benefited 15 projects in various sectors with funding and technical assistance. Under the sustainable tourism industry, Sunref funded Vingerklip Lodge in the Kunene region with N$3,8 million for the installation of a solar system.
It also extended N$10 million to Avagro in Erongo region under sustainable smart agriculture; and under the sustainable renewable energy sector, Sunref gave N$111 million for the 5-Megawatt solar plant at Rosh Pinah in //Kharas region.
EIF executive for business strategy and performance management Aina-Maria Iteta said: “The aim of Sunref Namibia was to facilitate access to affordable green technologies. Thereby, improving climate change resilience for Namibian companies, while guaranteeing the development of a low carbon environmental footprint and contributing to the reduction of the causes of climate change and other environmental disturbances in Namibia. It is the verdict of EIF that this objective has been achieved.”
Delivering the keynote address, minister of environment, forestry and tourism Pohamba Shifeta, in a speech read on his behalf by executive director of the ministry Teofilus Nghitila, said:
“The Sunref programme has been an important driver of our transition towards a low carbon and climate-resilient economy, and I would like to thank our developmental partner, the French Development Agency, for their support.”
French ambassador to Namibia Sebastien Minot said the successful implementation of the Sunref programme is the result of a unique Franco-Namibian success story involving key institutional partners in the two countries.
“A new collaboration has been established and has contributed, together with the private sector, to Namibia’s resilience to climate change, increased energy self-sufficiency, as well as enhanced food security,” Minot said.
He said the objective of the Sunref programme is to engage the financial sector on key steps to develop a green financial ecosystem in its country of implementation.
“By signing three respective loan agreements of 15 million euros each with Bank Windhoek, FNB and Nedbank, AFD had contributed to this development in Namibia.
“This initiative has enabled Namibian companies to access a green credit line to finance projects aimed at contributing to the country’s nationally determined contributions, to which Namibia is committed as a signatory of the Paris Climate Agreement,” he added.
The closing ceremony heard various presentations by experts on renewable energy and the experience of the three commercial banks that participated in the facility.
The ceremony was attended by representatives from the Ministry of Environment, Forestry and Tourism, the European Union, Minot, AFD personnel, Proparco AFD Group subsidiary, EIF staff and renewable industry stakeholders.
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