Pres Hage Geingob (2nd from the right) and the president of the European Commission, Ursula von der Leyen. Photo Contributed
Pres Hage Geingob (2nd from the right) and the president of the European Commission, Ursula von der Leyen. Photo Contributed

Nam bags billions in grants, loans

A total of 593 million euro – about N$10.6 billion at the current exchange rate – was pledged today to Namibia in grants and concessionary loans at the COP27 climate summit in Egypt.

These streams of capital will be an essential bloodline required to build a green and blue economy, commented James Mnyupe, Namibia’s green hydrogen commissioner and economic advisor to Pres Hage Geingob.

Today’s announcements were:

US$43 mln – Grant from Invest International to government

5 mln euro – Grant from European Investment Bank to government

10 mln euro – Grant from the European Investment Bank to Hyphen

25 mln euro – Concessionary loan to Hypen

10 mln euro – Grant from European Investment Bank to HDF Energy

500 mln euro – Concessionary optional facility from European Investment Bank to government.

According to Mnyupe, government has mobilised more than N$11 billion since the launch of the Harambee Prosperity Plan II in March last year.

Germany’s federal ministry of education and research granted government 40 million euro last August.

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Republikein 2022-12-05

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