Grant worth N$600m grant availed to Environmental Investment Fund

29 May 2018 15:10pm

A N$670 million grant has now been made available to the Environmental Investment Fund (EIF) Sustainable Utilization of Natural Resources and Energy Financing (SUNREF) programme to finance bankable Namibian projects in renewable energy and energy efficiency, sustainable agriculture and sustainable tourism.

This grant will also be used to set up a technical assistance facility that will simply interact between projects sponsors and banks the environment minister Pohamba Shifeta has said. 

“These are critical green economy sectors that will open up considerable investment and employment creation opportunities in the country. EIF have already cleared several projects in the areas of renewable energy for financing by three participating commercial banks. I look forward to the impacts that these projects will have on energy generation and supply fro our abundant energy renewable resources in terms of the sun, wind and biomass,” he said. 

He added that financing remains a big challenge towards realizing a low- carbon development in Namibia and to this end EIF efforts for securing finance need to be applauded. 

Shifeta also said that amidst an overall environment of shrining a public investment the EIF continues to mobilise resources for environmental protection and improved livelihoods of Namibians. 

“The EIF has also developed an investment plan for the proceeds collected from environmental levies on polluting and environmentally hazardous products imported into the country. Upon adoption we envisaged this investment plan to change the landscape of investments into infrastructure across the areas of low carbon and resilient development, waste management and recycling and biodiversity conservation,” he said.