Germany backs Namibian water and renewables development
Germany has extended an interest reduced local currency loan of N$1.8 billion ($120 million) to the Namibian government for development projects ranging from water supply to renewables.
Around N$900 million of the facility will fund the upgrading of the water infrastructure in Windhoek by modernising and extending the Gammams wastewater treatment plant, doubling capacity from 25,000 m³ to 55,000 m³ of water treated per day.
N$540 million will be used to extend an existing credit line to the Development Bank of Namibia for renewables projects in Namibia. The facility aims to improve access to long-term finance for both private and public investors. A further N$360 million of the loan is a credit line to the Agribank of Namibia to enable it to expand its range of financial services available to agricultural households and micro, small and medium-sized enterprises.
