The African Development Bank (AfDB) plans to provide $1.78 billion in financing to Namibia over the next several years, supporting key sectors including transport, energy, and water. This investment aligns with the bank’s strategy to boost Namibia’s economic growth from 2025 to 2030, with a midterm review set to adjust the total amount if needed. While the majority of the support will be structured as loans, a portion will be allocated as grants. The exact projects are yet to be detailed, but this investment comes at a pivotal moment for the resource-rich country. Namibia is currently a hub for global energy exploration and aims to achieve its first crude oil production by 2030, a milestone that could fundamentally reshape its economy and attract further international investment.
Reuters
