EIF wins award for sustainable financing
21 September 2020 | Environment
The Environmental Investment Fund (EIF) of Namibia will receive an award that recognises its success in financing climate-change resilient livelihoods.
The EIF will receive the plaque from the City of Karlsruhe in Germany for its outstanding sustainable project financing.
The announcement was made by Arshad Rab, the CEO of the European Organisation for Sustainable Development, on 7 September.
The Fund is currently busy with arrangements for representation at the award ceremony that will be held on 30 September.
However, due to the coronavirus pandemic and restrictions on travel, the organisers have informed the Fund that there will be no delegates from abroad attending the event.
The EIF was established to generate and provide financial resources for sustainable development of Namibia.
The grants, loans and credit guarantee programmes for green project finance are the key financial instruments to achieve these objectives.
In addition, the EIF was set up with the main aim of providing sustainable source of funding to support environmentally sound development in Namibia and do so in a manner that complements programmes and actions of both the public and private sectors.
The goal is to improve the quality of life and the economic wellbeing of this sector, thereby reducing the possibilities of them pursuing activities that degrade Namibia's fragile environment and waste its natural resources. The Karlsruhe Sustainable Finance Awards honours financial institutions or related organisations that make significant contributions to sustainable banking and finance.
The EIF was awarded for its recognition in outstanding success in long-term financing of climate-change-resilient livelihoods because of the projects that benefit local communities, protect the environment and ensure sustainable development.
The Fund successfully mobilised more than N$1.2 billion of investment in Namibia.
To date, more than 238 000 people have benefited and continue to benefit from different projects managed under the EIF.