06 Apr 2017 18:00pm
WINDHOEK, 06 APR (NAMPA) Poverty levels in Namibia have dropped from 70 per cent in 1993 to 18 per cent in 2015.
Presidential Advisor on Economic Affairs, John Steytler made this statement to a 12-member African Development Bank (AfDB) delegation at State House on Thursday.
He said this was achieved despite adverse conditions of high inequality in income.
We are also trying to reduce the income gap a bit. In this way the AfDB is very important, he noted.
The AfDB delegation is in Namibia on an annual visit to monitor projects funded by the bank, to acquaint themselves with Namibias various policies and to see how Namibia can cooperate with the AfDB to drive home the Harambee Prosperity Plan (HPP).
The HPP is President Hage Geingobs targeted impact plan aimed at significantly reducing poverty and inequalities, and uplifting the standard of living of all Namibians.
AfDB Executive Director Mohamed Zaghloul said his team had a fruitful dialogue with the ministers of finance; works and transport; and agriculture, as well as the governor of the Bank of Namibia and representatives of the Development Bank of Namibia during their five-day visit that commenced on Monday.
We commend Namibia on creating political stability which was the real conducive environment for anchoring growth and development, he said.
The AfDB executive director added that they also commend the fiscal consolation policy that was presented by the Minister of Finance, which deals with Namibias current situation.
We really commend this fiscal prudence and we think that it is a good way to move forward as a bank, and we support it, he stated.
One of the projects funded by the AfDB is the ongoing strategic expansion of the Walvis Bay container terminal, which commenced on 11 March 2014.
Zaghloul said his team was impressed during their visit to the project.
It is a huge project, not only the terminal but the northern port, both of them together is actually placing Namibia in a good position to act as a logistical hub for the region, he said.
Zaghloul said the AfDB looks forward to more cooperation with the government of Namibia.