Middle income tag irks Shifeta
Middle income tag irks Shifeta

Middle income tag irks Shifeta

Namibia's upper-middle income rating could adversely impact on funding for critically needed climate change mitigation.
Ogone Tlhage
Environment minister Pohamba Shifeta has asked global financing institutions to stop classifying Namibia as an upper-middle income country, saying that it hid away stark inequalities.

He made the comments during the Global Environment Facility (GEF) Assembly which is currently in session in Da Nong, Vietnam.

“I would like to use this platform to express our concern about the application of the classification of Namibia as an upper middle-income country and the new co-financing requirements that this entails and the likely reduction in terms of country allocation,” he said.

Shifeta said the continued reliance on gross domestic product-derived indicators masked stark past inequalities.

“This overlooks the vulnerability of the majority of our population and is to the detriment of our rural communities whose livelihoods are so gravely threatened by climate change, biodiversity loss and land degradation, and who are in greatest need of support.”

He also used the platform to point to successes Namibia had made as a result of donor granting from development institutions.

According to Shifeta, to date, Namibia has been able to implement over 30 national projects worth approximately US$71 million and we have participated in 33 regional and global projects.

“These projects have been an enormous help to Namibia in catalysing innovations and best practice approaches in the areas of biodiversity management, climate change adaptation and mitigation and sustainable land management,” said Shifeta.

He called for financing institutions which fund development programmes in Namibia to allow locals to take ownership of projects that they fund.

According to him, Namibia firmly believes that country ownership is the main driver of success when it comes to the conception, design, implementation and sustainability of GEF projects. “For this reason, we would request for the GEF to open up opportunities for the accreditation of national implementing agencies as is being done to good effect by the Green Climate Fund,” said Shifeta.

“It is our view that this will be the best approach to strengthen capacities and the long term benefits and impacts to developing countries from the GEF and will ensure better efficiency and effectiveness in overall implementation,” said Shifeta.

The Assembly will conclude today.

STAFF REPORTER

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Namibian Sun 2024-05-03

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Premier League: Chelsea 2 vs 0 Tottenham Hotspur European Championships Qualifying: Coventry City 1 vs 2 Ipswich Town English Championship: Coventry City 1 vs 2 Ipswich Town Katima Mulilo: 12° | 32° Rundu: 13° | 32° Eenhana: 13° | 32° Oshakati: 15° | 32° Ruacana: 15° | 33° Tsumeb: 16° | 30° Otjiwarongo: 13° | 29° Omaruru: 13° | 31° Windhoek: 12° | 27° Gobabis: 15° | 28° Henties Bay: 14° | 21° Wind speed: 20km/h, Wind direction: SW, Low tide: 05:43, High tide: 12:02, Low Tide: 17:54, High tide: 00:23 Swakopmund: 16° | 19° Wind speed: 19km/h, Wind direction: W, Low tide: 05:41, High tide: 12:00, Low Tide: 17:52, High tide: 00:21 Walvis Bay: 16° | 25° Wind speed: 28km/h, Wind direction: W, Low tide: 05:41, High tide: 11:59, Low Tide: 17:52, High tide: 00:20 Rehoboth: 14° | 29° Mariental: 17° | 31° Keetmanshoop: 19° | 31° Aranos: 16° | 31° Lüderitz: 15° | 25° Ariamsvlei: 18° | 33° Oranjemund: 14° | 22° Luanda: 25° | 28° Gaborone: 14° | 27° Lubumbashi: 12° | 26° Mbabane: 12° | 26° Maseru: 11° | 25° Antananarivo: 13° | 24° Lilongwe: 13° | 27° Maputo: 19° | 28° Windhoek: 12° | 27° Cape Town: 15° | 19° Durban: 17° | 28° Johannesburg: 16° | 25° Dar es Salaam: 24° | 28° Lusaka: 15° | 27° Harare: 13° | 28° Currency: GBP to NAD 23.18 | EUR to NAD 19.93 | CNY to NAD 2.55 | USD to NAD 18.51 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.31 | EGP to NAD 0.38 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.68 | ZWL to NAD 0.04 | BRL to NAD 3.62 | RUB to NAD 0.2 | INR to NAD 0.22 | USD to DZD 134.3 | USD to AOA 834.06 | USD to BWP 13.64 | USD to EGP 47.9 | USD to KES 133.98 | USD to NGN 1379 | USD to ZAR 18.51 | USD to ZMW 27.1 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 76046.88 Down -0.04% | Namibian Stock Exchange (NSX) Overall Index 1692.54 Up +0.10% | Casablanca Stock Exchange (CSE) MASI 13322.85 Up +0.03% | Egyptian Exchange (EGX) 30 Index 26113.71 Up +6.81% | Botswana Stock Exchange (BSE) DCI 9146.09 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - 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Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 294.46/OZ DOWN -0.0126 | Copper US$ 4.49/lb DOWN -0.0087 | Zinc US$ 2 916.80/T UP 0.17% | Brent Crude Oil US$ 83.99/BBP DOWN -0.0036 | Platinum US$ 951.83/OZ DOWN -0.0038