The Development Bank of Namibia (DBN) and the World Bank have engaged to explore cooperation between the two development financiers.
This comes as the senior team from the World Bank paid a visit to DBN to explore avenues of cooperation.
The focal point of the discussions revolved around the preparation of a technical background paper pertaining to the financial sector for the forthcoming Namibia Climate Change and Development Report.
“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,†said Chief Executive Officer of DBN, John Steytler.
This comes as the DBN launched its Sustainable Finance Framework last year, intensifying its collaborations with bilateral and multilateral funders to bolster its climate finance endeavors.
The framework, delineated into seven green and four social categories, aims to address environmental and social objectives aligned with climate change mitigation and social inclusivity.
“Pioneering renewable energy finance models, such as for Ombepo Wind Farm, contributed to the DBN’s strong alignment with various international measures governing sustainable finance. This pioneering spirit and experience in the renewable energy sector will form the basis as the Bank aims to unlock new sectors such as green industrialization,†the DBN said.
The World Bank was represented by Ajai Nair, Senior Financial Sector Specialist and Financial Sector Lead for Namibia, along with Etienne Sannicolo, a Financial Sector Specialist, and Remi Jean Yves Francis Bealle, a Financial Sector Consultant, who met with John Steytler as well as DBN exco members.
