Namibia - Development Bank of Namibia


Project Summary

Approval Date 09 Jul 2015
Signature Date 22 Jul 2016
Planned Completion Date 22 Jul 2021
Last Disbursement Planned Date 22 Jul 2021
Sovereign / Non-Sovereign Sovereign
Sector Finance
DAC Sector Code 24030
Commitment U.A 215,788,009.86
Status Implementation

Project General Description

This intervention is related to a 17-year line of credit with sovereign guarantee (with a grace period of five years) of ZAR 4.5 billion (about USD 450 million) to Development Bank of Namibia (DBN). The DBN is a national institution founded to promote and finance development in economic sectors which support the country’s development and welfare of its citizens. The bank is fully owned by the Government of Namibia, and provides support to its target beneficiaries through loans, equity partnerships, financial advisory services, management services, and export/import finance. The approved LOC to DBN targets key priority sectors with lower levels of economic activity, as well as infrastructure, projects and enterprises benefiting women and youths. This facility will support entrepreneurship and provide the expected long-term funding for growth sectors. It will also help create employment opportunities and wealth while generating tax revenue.

Project Objectives

The project aims to strengthen the financing capacity of the Development Bank of Namibia (DBN) for key priority projects in the country, and thereby achieve the development goals set by the Namibian Government.

Beneficiaries

The main beneficiaries of the project are the Government of Namibia, the Development Bank of Namibia (DBN), the Namibian populations formerly disadvantaged in terms of financial services, especially women and young entrepreneurs.

Participating Organization

Funding
African Development Bank
Implementing
Development Bank of Namibia (DBN)

Information

IATI identifier 46002-P-NA-HAA-004
Last Update 31 Oct 2019

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Contact Details

Name BANDA Jonathan Richard Kamkosi
Email j.banda@afdb.org

Geographic Location

Country Namibia
Coordinates Location Name
-22.55941 17.08323 Windhoek