The Development Bank of Namibia (DBN) has been officially accredited by the Green Climate Fund (GCF), a move expected to improve Namibia’s ability to access international climate finance.
The accreditation was confirmed during the 42nd meeting of the GCF Board, where DBN was announced as one of eight newly accredited entities worldwide.
According to the GCF, Accredited Entities “partner with GCF to implement projects” by converting climate project concepts into action in line with GCF investment frameworks and the priorities of developing countries.
“They work alongside countries to come up with project ideas, and submit funding proposals for the GCF Board to approve,” the Fund said.
The accreditation concludes a six-year effort by DBN and is regarded as a significant milestone for Namibia, which remains highly vulnerable to the impacts of climate change.
Through the GCF, DBN will now be able to access a range of concessional finance instruments, including grants, loans, equity, and guarantees.
As part of the accreditation process, DBN developed key institutional tools such as its first Blended Finance Framework and a Grant Management Policy, both of which will guide the bank’s climate finance operations going forward.
In addition to unlocking funding, the accreditation is expected to strengthen DBN’s institutional capacity, particularly in areas such as governance, fiduciary oversight, and environmental, social and gender safeguards.
