Namibia received over Euros 800m from Germany

27 Jun 2015 08:40am
WINDHOEK, 27 JUN (NAMPA) – Namibia has received more than Euros 800 million (over N.dollars 10 billion) from the German Government as development assistance since its independence in 1990.
Minister of Finance, Calle Schlettwein announced this on Thursday during the signing of a Euros 45 million (approximately N.dollars 613 million) intergovernmental loan agreement between Namibia and Germany.
With the agreement, the German Government-owned development bank, KfW, and the Namibia Power Corporation (NamPower) enter into a financial cooperation for renewable energy and energy efficiency.
The relationship between Namibia and Germany is driven by the countries' shared colonial history, close cultural ties and 25 years of enduring and substantial bilateral development cooperation in support of Namibia's commitment to stimulate and sustain economic growth.
Schlettwein and German Ambassador to Namibia, Onno Hückmann signed on behalf of the two governments.
Schlettwein said to achieve the country's development agenda as set out in the fourth National Development Plan (NDP4), Germany is continuing to support Namibia in natural resource management, sustainable economic development and transport.
Other areas of cooperation include undertaking community development measures in areas inhabited by those ethnic groups that endured particular suffering under German colonial rule, mitigating climate change, and improving energy security.
He indicated that Namibia's existing relationship with the KfW includes concessionary loan funding towards the Hardap Dam rehabilitation, Trans-Caprivi Highway, rural basic communications and the upgrading of the Port of Walvis Bay.
The Finance Minister said Namibia and Germany have been intertwined in a long history.
“We have the opportunity to build on friendship and look forward, and do what friends do when challenges are to be addressed. Tackle them with an open but determined mind, focused on solving the matter and through that strengthen the friendship,” he said.
On his part, Hückmann said Namibia is one of the key partner countries of German development cooperation.
The German Government acknowledges its historic and moral responsibility towards Namibia, which is reflected in the scale of German development funding with the highest per capita input in Africa.
(NAMPA)
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