The Environmental Investment Fund ( EIF)received an award from the Global Sustainable Finance Awards held in Karlsruhe, Germany recently.
A statement issued today by the fund states that the EIF was among eight financial institutions around the world identified for the award.
“It is an honour for us to be recognised at this level, especially considering that we have only been in existence for a short period, said a jubilant Benedict Libanda, Chief Executive Officer, whilst receiving the award on behalf of the fund.
The award ceremony is an initiative of the Global Sustainable Finance (GSF) Network that recognises financial institutions that have successfully embedded economic, social and environmental sustainability into their business and making outstanding contributions in the field of sustainable finance.
The EIF came into being in February 2012 and has since introduced a grant making mechanism that has provided support to over 26 environmental projects across Namibia, directly benefitting roughly 6 000 community members.
The fund plans to provide subsidised green loans for the development and promotion of green related enterprises in Namibia.
This initiative set to be unveiled at the end of this July is envisaged to grant access to finance for enterprises aiming to invest in environmentally sustainable solutions for their businesses.
“The first roll out of the green soft loans is expected to benefit around 200 households. We will also target to finance about 15 Small Medium Enterprises (SMEs) involved in green enterprise development such as solar water geysers, solar water pumps, water efficient products, organic farming, eco-tourism facilities and waste management technologies,” said an ecstatic Libanda.