USAID commits N$19 million to Namibian Hydrogen Fund for sustainable development
The U.S. government, through the USAID Mobilizing Investment project, has pledged a grant of N$19 million to Namibia Hydrogen Fund Managers.
This grant is aimed at bolstering the N$22 billion Sustainable Development Goals (SDG) Namibia One Fund, dedicated to green hydrogen initiatives.
The announcement comes as part of the ongoing efforts to support Namibia’s vision of becoming a leader in green hydrogen development.
Launched during the United Nations Climate Change Conference COP-27 in November 2022, the SDG Namibia One Fund serves as a crucial financial vehicle for advancing the production, transportation, transmission, storage, and utilization of green hydrogen and its derivatives.
Namibia, with its ambitious Vision 2030, recognizes the potential of green hydrogen to drive sustainable economic growth while mitigating environmental impacts. U.S. Ambassador Randy Berry commended Namibia’s proactive stance, stating, “In the global race to develop green hydrogen, Namibia is at the forefront.”
The USAID Mobilizing Investment project, initiated in May 2023, aims to bridge funding gaps in Southern Africa’s investment ecosystem. Namibia Hydrogen Fund Managers (Pty) Limited (Nam H2) is among the beneficiaries of this initiative, receiving the N$19 million grant to support their endeavors.
By facilitating the influx of private capital into the economy, the project seeks to stimulate employment, alleviate poverty, and address inequality across the region. Operating in ten Southern African countries, including Namibia, the USAID Mobilizing Investment project is committed to fostering sustainable development and economic resilience.
This grant underscores the collaborative efforts between the United States and Namibia in advancing renewable energy solutions, marking a significant step towards achieving shared environmental and developmental goals.
National Planning Commission Director General Obed Kanjoze, Environmental Investment Fund Chief Executive Officer Benedict Libanda, Namibia Hydrogen Fund Managers Investment Director Mercia Geises, U.S. Ambassador to Namibia Randy Berry, and USAID Mobilizing Investment Project Chief of Party Robin Padberg.
