Germany commits €103.5m to Namibian projects
The Government of the Federal Republic of Germany has committed a new amount of €103.5 million for bilateral Technical and Financial Cooperation after negotiations held last week between the two governments.
This brings the total new funding available for Technical and Financial Cooperation projects and programmes in 2016 and 2017 to €133.5 million equating to N$2 billion using the current exchange rates. Of the €133.5 million, €73.5 million is a grant support while €60 million is interest reduced to loan, the Deputy Minister of Economic Planning Lucia Iipumbu has said.
“Cooperation between the two governments focuses on three focal areas which are Management of Natural Resources, Sustainable Economic Development and Transport logistics. This did not, however, disregard sectors that are mutually agreed on which fall outside our co-operation” Iipumbu has said. She further added that it is pleasing to note that Germany’s support to Namibia is aligned to the Fifth National Development Plan (NDP5).
The Prime focus of the two countries’ cooperation is to support the Namibian government in its efforts to reduce poverty and unemployment, to improve the populations overall lining conditions and to strengthen the country’s infrastructure as well as to foster economic development. Some of the focal sustainable development areas are NamPost Microfinance Credit Line; Promotion of Vocational Education and Training; Promotion of Business Advisory and Transformational Services and support to Management of State Owned Enterprises.
Cooperation outside these focal areas include securing Windhoek water supply, direct Potable Reclamation Plant Gammas; GET-FIT Namibia programme; SDG initiative Namibia and Studies and Experts Fund.