By Confidente Reporter
FRENCH development agency, Agence Française de Développement (AFD), has signed a deal with Bank Windhoek to provide a financing facility to the value of 15 million euro (N$215 million), which will be used to fund small-scale investments in Namibia.
Bank Windhoek said that AFD had approached it with an offer to provide mid and long-term facilities, inclusive of technical assistance, for lending towards eligible projects in the renewable energy, energy efficiency and the sustainable use of natural resources (agriculture and tourism) sectors.
The deal was concluded and signed last week. The main purposes of the Sustainable Use of Natural and Environmental Finance (SUNREF) agreement in the Land of the Brave are to reduce the carbon footprint and energy intensity of the Namibian economy, secure energy supply of small and medium-sized companies, leverage investments in the fields of sustainable agriculture and tourism to help structure these strategic sectors.
The deal also aims to provide replicable and innovative good examples of what could be performed through local banks and small to medium-sized companies to ensure scalability.
By targeting small and medium-sized companies, the agreement aims to maximise its impact, in terms of job creation.
The agreement is further aligned to Bank Windhoek’s sustainability focus and the bank’s commitment to combating climate change, together with the Ministry of Environment and Tourism.
Bank Windhoek Managing Director, Baronice Hans, emphasised small and medium enterprises as pivotal to the country’s future.
“We are proud of our association and partnership with the AFD. The loan facility will empower the bank to increase its lending to small-scale enterprises, amongst others, which is a very important sector in Namibia’s future economic growth and development,” Hans said.
“Bank Windhoek strives to be a catalyst for sustainable opportunities in Namibia, and with partnerships such as these, we aim to empower the communities we serve.”
The French Ambassador to Namibia, Jaqueline Bassa-Mazzoni, said that she was convinced that the agreement, supported by AFD and implemented by Bank Windhoek, would lead to great and efficient projects in the fields of sustainable development, green tourism and renewable energy.
“I am proud of the SUNREF project, as it perfectly complies with the objectives of the Harambee Prosperity Plan and the fight against poverty by supporting green job creation,” Bassa-Mazzoni said.
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