DBN extended N$340 billion in business loans last year

19 Feb 2014 19:40pm
WINDHOEK, 19 FEB (NAMPA) – Finance minister Saara Kuugongelwa-Amadhila says the Development Bank of Namibia (DBN) issued business loans to the tune of N.dollars 340 million during the course of 2013.
She said this while tabling the 2014/15 National Budget of N.dollars 60,28 billion in Parliament, adding that the aforesaid amount brings the bank’s total loan book to N.dollars 1,73 billion.
According to the minister, the business loans extended by the DBN benefited all categories of businesses, including small and medium enterprises (SMEs), and a total of about 1 619 new jobs were created.
She also announced that the Agricultural Bank of Namibia (Agribank)’s loan disbursement last year amounted to N.dollars 383,18 million which benefitted over 730 farmers, bringing Agribank’s total loan book to N.dollars 2,14 billion.
The minister said the bank has put aside N.dollars 91 million to assist farmers to mitigate the effects of the ongoing drought in Namibia.
Kuugongelwa-Amadhila also noted that the SME Bank which became operational in 2012 is a welcome development and provides much-needed support to the financial sector’s capacity to address funding needs in this sector.