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New wave of German financial support

New wave of German financial support

Namibia and Germany signed a new funding deal this week, making available more than N$1.1 billion in additional funding for specific development targets through previously identified preferential sectors and industries.
Following the last Intergovernmental Negotiations on Development Cooperation between Namibia and Germany, Hon. Tom Alweendo, the Minister of Economic Planning and the Director General of the National Planning Commission co-signed an agreement with the German Ambassador, HE Christian Schlaga, for financial and technical cooperation exceeding N$1 billion.
At negotiations in October 2015 both governments agreed to continue the successful cooperation in the three focal areas of Management of Natural Resources, Sustainable Economic Development and Transport &Logistics.
Hon Alweendo said the German cooperation supports the government to reduce poverty and unemployment, to improve the population’s overall living conditions, to strengthen the country’s infrastructure and to boost economic development.
Ambassador Schlaga reiterated Germany’s commitment to remain a reliable partner despite Namibia’s status as an upper-middle income country. The agreements include grants of Euro30 million for projects to be financed through the German Development Bank (KfW). Individual projects include the extension and maintenance of the road system as well as the extension of the UNAM campus in Ongwediva and Katima Mulilo. A new project will improve solid waste management in protected areas.

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