Enviro fund marks three-year milestone
New EIF board takes office
The minister of environment and tourism, Pohamba Shifeta, on Monday announced the appointment of a new board of directors for the Environmental Investment Fund (EIF).
Officially launched by the government in 2012, the EIF aims to secure and mobilise funds for investment in projects that protect and encourage wise management of the environment, as well as of Namibia’s natural resources for economic development.
The new board consists of chairperson Teofilus Nghitila, who was re-elected, vice-chairperson Karen Nott and members Israel Hasheela, Johanna Andowa and Titus Ndove.
Their term is effective from 1 September 2016 until 31 August 2019.
Also announced on Monday was the re-election by the new board of Benedict Libanda as chief executive officer (CEO).
Speaking at the media event in Windhoek, Shifeta congratulated those at the helm of the previous board term, listing a host of milestones reached during the period.
Among those was the EIF’s accreditation as a national implementing institution by the international Green Climate Fund.
That achievement, Shifeta said, would enable the fund to secure even more funding, to help fund bigger and more significant projects.
The fund’s latest annual report for 2014 to 2015 shows it received 40 business plans for consideration under its green concessional loans portfolio, approving five to the value of N$13.9 million.
The fund also finances ‘green soft loans’, where 105 applications were received and 84 were approved.
In terms of grants, the fund approved 23 such submissions to the value of N$7.5 million.
DENVER ISAACS
Officially launched by the government in 2012, the EIF aims to secure and mobilise funds for investment in projects that protect and encourage wise management of the environment, as well as of Namibia’s natural resources for economic development.
The new board consists of chairperson Teofilus Nghitila, who was re-elected, vice-chairperson Karen Nott and members Israel Hasheela, Johanna Andowa and Titus Ndove.
Their term is effective from 1 September 2016 until 31 August 2019.
Also announced on Monday was the re-election by the new board of Benedict Libanda as chief executive officer (CEO).
Speaking at the media event in Windhoek, Shifeta congratulated those at the helm of the previous board term, listing a host of milestones reached during the period.
Among those was the EIF’s accreditation as a national implementing institution by the international Green Climate Fund.
That achievement, Shifeta said, would enable the fund to secure even more funding, to help fund bigger and more significant projects.
The fund’s latest annual report for 2014 to 2015 shows it received 40 business plans for consideration under its green concessional loans portfolio, approving five to the value of N$13.9 million.
The fund also finances ‘green soft loans’, where 105 applications were received and 84 were approved.
In terms of grants, the fund approved 23 such submissions to the value of N$7.5 million.
DENVER ISAACS
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