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Germany supports Namibia’s Economy

By: Hertha Ekandjo

Germany has agreed to work with Namibia to fund the NamPost facility in support of SMEs, Water Sector support and renewable energy program.

Germany’s ambassador Herber Beck said this during the signing of the Financial Cooperation agreement on interest loans between Namibia and Germany on Friday in Windhoek.

“The loan is in the amount of 161 million euros which is N$2.7 Billion, in the exchange rate. I think it’s quite a significant investment,” said Beck.

Furthermore, Beck said looking at the areas they have agreed to fund, they are critical and can make a difference for the people of Namibia.

According to the ambassador, Germany intends to make the lives of Namibians better and to help in the development of the country.

Finance minister Ipumbu Shiimi on the same occasion said that Namibia is very grateful for the support it receives from the Federal of Germany.

“We are here to sign another agreement even in critical areas. This support that we are getting in specific areas will help the country’s economy recover,” said Shiimi.

The minister further said it is essential for them to support Small and Medium Enterprises (SMEs) as it is the backbone of the economy.

According to Shiimi, Germany’s support for Namibia comes in handy to revive the country’s economy.

Moreover, he said the funding for the water sector is very crucial as the country cannot operate without water. Therefore it is really appreciated that Germany came through in support of this sector.

“The source of energy that the world is going to use in the future is renewable energy. The support in renewable energy is important as it will help in the future,” said Shiimi.

Shiimi said that renewable energy would, in the future, be a source of job creation.

Furthermore, he said that apart from the support the country is getting from Germany, Namibia also has strategic investments supporting these critical areas.

Hertha Ekandjo

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