Namibia launches Sustainable Utilization of Natural Resources and Energy Financing program

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Namibia
Namibia

Namibian Minister of Environment and Tourism, Pohamba Shifeta officially launched the Sustainable Utilization of Natural Resources and Energy Financing program (SUNREF Namibia) in the capital Windhoek Thursday.

An event dedicated to the promotion of a new green finance program in Namibia The SUNREF 3-year program, developed by the Agence Francaise de Development (AFD) will mobilize private Namibian banks to finance private sector investments in green technologies in the sustainable agriculture, sustainable tourism, renewable energy and energy efficiency market segments.

FNB Namibia, Bank Windhoek and Nedbank will provide this green line of credit to project sponsors, while the Environmental Investment Fund of Namibia will provide technical assistance to the three participating banks.

Speaking at the launch, Shifeta outlined Namibia’s commitment to the Paris Climate Agreement as embodied in the Cabinet-approved Intended Nationally Determined Contributions (INDC) document of 2015.

“The INDC contains highly ambitious climate change adaptation and mitigation targets in a range of sectors such as energy, waste, agriculture and forestry and industrial production”, he stated.

He also emphasized the importance of development financing in these sectors and called on increased investments in sectors such as waste management to ensure that Namibia does not lag behind in innovations such as waste-to-energy technologies.

The event saw the showcasing of similar projects financed through SUNREF South Africa and selected projects that had been financed by the Namibian commercial banks through the initiative.

The French Ambassador to Namibia, Claire Bodonyi, Regional Director of AFD, Martha Stein-Sochas and representations of industry across various sectors of Namibia’s economy attended the event. Enditem

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