DBN, EIF ink agreement

Strengthening capacity
The memorandum of understanding outlines a framework for cooperation between the EIF and DBN, including joint efforts in capacity-building, knowledge-sharing and technical assistance.
STAFF REPORTER
  • 3 Weeks Ago - 2024-08-27 00:00:00
The Development Bank of Namibia (DBN) and the Environmental Investment Fund of Namibia (EIF) have signed an agreement aimed at collaborating with regards to an 'Accreditation of direct access entities in Namibia' project.
The partnership is poised to strengthen the capacity of Namibian institutions to access international climate finance directly. Meanwhile, the project aims to support the accreditation of Namibian entities as direct-access entities under global climate funds, thereby enhancing the country's ability to finance and implement critical climate change adaptation and mitigation projects, the organisations said in a statement.
The agreement was signed on Thursday, 22 August, by EIF CEO Benedict Libanda and his counterpart at DBN, Dr John Steytler.
Speaking at the signing ceremony, Libanda emphasised the importance of this collaboration. "This memorandum of understanding [MoU] marks a pivotal moment in Namibia’s journey towards sustainable development and climate resilience. By pooling our resources and expertise with the DBN, we are reinforcing our commitment to ensuring that Namibia can effectively access and utilise global climate finance to drive our national climate agenda."
Steytler echoed these sentiments, highlighting the strategic alignment between the two institutions. "The DBN is dedicated to fostering economic growth and development in Namibia. Our partnership with EIF through this MoU will enable us to play a key role in supporting the accreditation of direct access entities, which is essential for unlocking much-needed climate finance to address the pressing environmental challenges our country faces," he said.
The MoU outlines a framework for cooperation between EIF and DBN, including joint efforts in capacity-building, knowledge-sharing and technical assistance. The collaboration is expected to streamline the accreditation process for Namibian entities, positioning them to access funding from international climate funds, such as the Green Climate Fund and the Adaptation Fund.