Bank Windhoek this week announced the conclusion and signing of a facility to the value of 15 million euros with the Agence Française de Développement (AFD) that took place last week.
Baronice Hans, Bank Windhoek Managing Director, said the French Development Agency had approached the bank with an offer to provide medium and long-term facilities, inclusive of technical assistance, for lending towards eligible projects in renewable energy, energy efficiency and natural resources sustainable use (agriculture, tourism) small-scale investments in Namibia.
Hans said the main purposes of the Sustainable Use of Natural and Environmental Finance (SUNREF) agreement was to reduce the carbon footprint and energy intensity of the Namibian economy and secure energy supply of small and medium-sized companies in Namibia.
She said the facility would also leverage investments in the fields of sustainable agriculture and tourism to help structure these strategic sectors and provide replicable and innovative examples of what could be performed through local banks and small to medium-sized companies to ensure scalability.
“By targeting small and medium companies the agreement aims at maximising its impact in terms of job creation. The agreement is further aligned to Bank Windhoek’s sustainability focus and the bank’s commitment to combating climate change, together with the Ministry of Environment and Tourism,” Hans said.