The World Bank Group (WBG) says it is developing a new Country Partnership Framework (CPF) to guide its future support for Namibia.
This follows a recent visit by a delegation of the WBG’s Board of Executive Directors to South Africa and Namibia.
The delegation met with Minister of Finance and Public Enterprises Ipumbu Shiimi and key stakeholders.
The delegation aimed to assess progress on existing projects and discuss the evolving relationship between the WBG and the two countries.
“In Namibia, the World Bank Group is preparing a new Country Partnership Framework with the government that will strategically guide its support as the engagement continues to grow,†said the World Bank.
The new CPF, currently under development, will serve as a roadmap for the WBG’s future engagement with Namibia and will align its support with the National Development Plan 4 (NDP4).
The Bank further said discussions focused on the WBG’s future support in fostering inclusive economic growth and job creation within Namibia.
A recent N$2.6 billion International Bank for Reconstruction and Development (IBRD) ($138.5 million) loan approved by the World Bank for NamPower, Namibia’s state-owned power utility, is the first of its kind for Namibia in 15 years.
Notably, the bank emphasised that the focus is shifting from a purely knowledge-based partnership to a broader one encompassing both knowledge sharing and financial assistance.
“These interactions provided valuable insights into how Namibia manages its development priorities and confronts ongoing challenges like poverty, unemployment, and inequality,†the World Bank said.
Matteo Bugamelli, the World Bank’s Executive Director, representing a constituency that includes Namibia, expressed optimism about the country’s progress.
He reaffirmed the WBG’s dedication to supporting Namibia in tackling unemployment and inequality.
Bugamelli also welcomed the increased focus on financing crucial reforms within the country.
