Africa-Press – Namibia. THE United States (U.S.) government has granted N$19 million to Namibia Hydrogen Fund Managers (Pty) Limited to support the N$22 billion Sustainable Development Goals (SDG) Namibia One Fund.
The SDG Namibia One Fund, launched during the United Nations Climate Change Conference COP-27 in November 2022, serves as Namibia’s exclusive finance mechanism for green hydrogen.
It is the designated funding partner for Namibia’s initiatives in green hydrogen. The fund will oversee infrastructure projects encompassing the production, transportation, transmission, storage, and utilization of green hydrogen and its derivatives. This is intended to contribute to creating a more environmentally friendly energy grid, generating employment, reducing emissions, and fostering sustainable economic growth in Namibia.
“In the global race to develop green hydrogen, Namibia is at the forefront. In fact, green hydrogen development is at the heart of the country’s Vision 2030. I applaud the government of Namibia for recognizing that hydrogen presents the country with the unique opportunity to develop a low-carbon industry,” U.S. Ambassador to Namibia, Randy Berry, said.
The U.S. Government granted the N$19 million through the USAID Mobilizing Investment project, which aims to address funding gaps in Southern Africa’s investment ecosystem.
“By catalyzing an increased flow of private capital into the economy, the project hopes to help increase employment, decrease poverty, and reduce inequality across the region. The USAID Mobilizing Investment project operates across ten Southern African countries: Angola, Botswana, Lesotho, Eswatini, South Africa, Madagascar, Malawi, Mozambique, Zambia, and Namibia,” the U.S Embassy’s Acting Public Relations Officer, Rachelle Duck, said.
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