World Bank delegation talks green financing with Development Bank
The Development Bank of Namibia (DBN) has engaged its first financing partner with a view to compile the Namibia Climate Change and Development Report, when it met with delegates of the World Bank earlier this month.
Development Bank Chief Executive, Dr John Steyler had discussions with three of his former colleagues at the World Bank in preparation for the technical background paper that deals with the nuts and bolts of financing climate change.
Mr Ajai Nair, World Bank Senior Financial Sector Specialist and Financial Sector Lead for Namibia; Etienne Sannicolo, Financial Sector Specialist, and Remi Jean Yves Francis Bealle, Financial Sector Consultant, had discussions with Dr Steytler and the DBN Exco on the preparation of the technical paper.
Since launching its Sustainable Finance Framework last year, the Development Bank has increased its engagements with bi-lateral and multi-lateral funding institutions to support its climate finance framework comprising seven green categories to help mitigate the impact of climate change.
In addition to protection of the environment, the categories also include dimensions from the social sphere. The detail of these policy documents can be obtained at https://www.dbn.com.na/investors-relations/sustainability .
The Development Bank said in a statement that its financing of, for instance, renewable energy projects, aligns it with various international benchmarks that determine the basis of sustainability finance. The experience the bank obtained from its involvement in this specialist type of financing will form the basis of unlocking the potential of other sectors in so-called green industrialisation.
“As a Bank, DBN has a strong ambition to be the partner of choice for innovative development solutions in Namibia. By leveraging strategic development partnerships with other development finance institutions such as the World Bank, DBN will be able to achieve its vision,” commented Dr Steytler.
