Namibia, KfW sign N$1.5 billion loan agreement
Namibia and the German Development Bank (KfW) signed a €75 million (approximately N$1.5 billion) concessional loan agreement to bolster the Water Sector Support Programme II. The funding will drive crucial water infrastructure developments in Namibia’s northern regions.
The event took place on Tuesday at the finance ministry offices in Windhoek. Finance minister Ericah Shafudah said the 20-year loan, which includes a 5-year grace period and a 2.2% lower interest rate than the market average, is a move to address long-standing water supply challenges. Shafudah said the funding will support the construction, rehabilitation, and upgrading of extensive water infrastructure and broader development goals outlined in the 2025–2026 national budget.
- George Dinyando
The event took place on Tuesday at the finance ministry offices in Windhoek. Finance minister Ericah Shafudah said the 20-year loan, which includes a 5-year grace period and a 2.2% lower interest rate than the market average, is a move to address long-standing water supply challenges. Shafudah said the funding will support the construction, rehabilitation, and upgrading of extensive water infrastructure and broader development goals outlined in the 2025–2026 national budget.
- George Dinyando
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