Namibia - Development Bank of Namibia

This intervention is related to a 17-year line of credit with sovereign guarantee (with a grace period of five years) of ZAR 4.5 billion (about USD 450 million) to Development Bank of Namibia (DBN). The DBN is a national institution founded to promote and finance development in economic sectors which support the country’s development and welfare of its citizens. The bank is fully owned by the Government of Namibia, and provides support to its target beneficiaries through loans, equity partnerships, financial advisory services, management services, and export/import finance. The approved LOC to DBN targets key priority sectors with lower levels of economic activity, as well as infrastructure, projects and enterprises benefiting women and youths. This facility will support entrepreneurship and provide the expected long-term funding for growth sectors. It will also help create employment opportunities and wealth while generating tax revenue.