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Eswatini, Namibia environmental funds meet

September 26, 2022

Namibia and Eswatini have exchanged notes on the best practices to conserve and manage the environment. 

This comes as several countries across the world are struggling to contain the degrading physical environment and the growing scarcity of natural resources that are essential for sustaining further growth and eliminating poverty. 

Namibia’s Environmental Investment Fund (EIF) said a delegation from Eswatini Environmental Fund (EEF) recently concluded a visit in the country. 

"The purpose of visiting Namibia is to meet with the EIF and learn from the institutional set-up in place that enables it to deliver on the same objectives as the EEF," the EIF revealed. 

In their discussions, the two institutions emphasised the importance of protecting the environment, highlighting their hope to sign agreements geared towards environmental sustainability and productive use of resources.  

"The sessions provided a platform for the two institutions to network and engage on the opportunities and challenges pertaining to their respective institutional set-ups with a view towards documenting best practices and lessons-learnt," said the Fund. 

The Environmental Investment Fund is Namibia’s own response to the growing global need for green financing. Established in terms of the Environmental Investment Fund Act, Act 13 of 2001 with a mandate to raise funding for investments into projects and programmes that promote sustainable development. It is currently one of the fastest growing green and climate financing institutions in Africa. 

The EIF has proven to be one of the fast-growing and successful Fund since its inception having managed to attract N$820 million for concessional Green Credit Line with participating commercial bank from Agence Française de Développement (AFD) under the SUNREF project in Namibia. 

"Amongst its recognisable impacts to date since inception, the Fund has disbursed grants valued at more than N$583 million, ensuring that more than 240,256 hectares of land are under conservation. Seventy-one grants were also approved for different environmental projects, creating more than 950 employment opportunities mostly rural based, including seasonal ones.

Further retrofitted 169 boreholes that benefitted more than 77,000, who now have access to potable drinking water" the Fund boasted. 

Saying this is part of its vision to be a recognised leader in the development and application of innovative financing mechanisms to support sustainable development and ensuring inclusive development for all the people of Namibia.  

To date, the EIF has attracted and mobilised more than N$3 billion mostly from multilateral and developmental funding institutions and partners across the globe.

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Last modified on Thursday, 29 September 2022 04:47