AfDB approves US$1.78 billion development plan for Namibbia

The African Development Bank Group's board of directors has approved a country strategy paper (CSP) for Namibia committing US$1.78 billion to support economic transformation and inclusive growth in the 2025-2030 period.The financing is expected to pave the way job for creation and economic diversification while also addressing key challenges facing of the world's most unequal countries: youth unemployment exceeds 40%, and per capita income has fallen from US$5 942 in 2012 to US$4 240 in 2024."This strategy marks a pivotal moment for Namibia's development," said Moono Mupotola, the bank group's deputy director general for Southern Africa and country manager for Namibia. "By focusing on strategic infrastructure and human capital development, we are laying the foundation for inclusive growth that will benefit all Namibians, particularly the young."The strategy focuses on two priorities. The first is investment in transport, energy, and water infrastructure to reduce business costs, enhance productivity, and establish Namibia as a regional logistics hub. These investments will strengthen trade facilitation under the African Continental Free Trade Area, enhance energy security through renewables, and expand rural access to clean water and sanitation.The second priority aims to boost human capital through market-relevant technical and vocational training that creates pathways from education to employment, providing support for the development of micro, small, and medium enterprises (MSMEs), and advancing women's economic empowerment.Implementation is expected to diversify the economy beyond mining and agriculture, integrate MSMEs into regional value chains, and enhance manufacturing capabilities while creating thousands of direct and indirect jobs.Infrastructure improvements will increase electricity access from 59.5% towards universal coverage, enhance trade connectivity with Angola and Zambia, and reduce logistics costs. The strategy also supports Namibia's climate commitments and positions the country as a leader in green hydrogen."Recent U.S. tariff impositions and official development assistance cuts have created additional pressures on Namibia's economy," said Mupotola. "Our strategy strengthens resilience by diversifying export markets, enhancing regional integration, and building domestic productive capacities."The strategy builds on the Bank's decade-long track record in Namibia, where it has invested US$658.1 million in projects including the expansion of Walvis Bay Port, railway upgrades, and 27 educational institutions across all 14 regions.The Namibia CSP aligns with the Bank Group's Four Cardinal Points, Namibia's Vision 2030, and Africa's Agenda 2063. Implementation begins immediately, with the first operations expected in early 2026.

AfDB approves US$1.78 billion development plan for Namibbia

Kommentaar

Republikein 2025-12-08

Meld asseblief aan om kommentaar te lewer

AfDB approves US$1.78 billion development plan for Namibbia

Kommentaar

Republikein 2025-12-08

Meld asseblief aan om kommentaar te lewer

Intekening vereis om toegang tot inhoud te kry. ×

MELD AAN

Advertensie

Intekening vereis om toegang tot inhoud te kry.