Official Launch of the SUNREF Program Environment Investment Fund of Namibia and AFD Namibia

Official Launch of the SUNREF Program Environment Investment Fund of (...)

On Thursday, May 24 in Windhoek, the French Development Agency (AFD) and their Namibian partner Environment Investment Fund of Namibia launched the SUNREF program (Sustainable Use of Natural Resources and Environemental Finance).

During this occasion, the Minister of Tourism and the Environment, Pohamba Shifeta, officially inaugurated the SUNREF 3 year program. The French Ambassador in Namibia, Claire Bodonyi, Regional Director of the AFD, Martha Stein-Sochas and representations of industry across various sectors of Namibia’s economy attended the event.

The purpose of SUNREF has been to mobilize private Namibian banks to finance private sector investments in green technologies in the sustainable agriculture and tourism, renewable energy and energy efficiency market segment. The partner banks are NedBank, Windhoek Bank and First National Bank of Namibia. These banks will provide this green line of credit to project sponsors. During the second part of the launch, an exchange between local businesses and banks has been proposed.

Speech by the French Ambassador in Namibia, Claire Bodonyi
 Pohamba Shifeta, Minister of Environment and Tourism, also gave a speech on the SUNREF project.
In the former SUNREF program, EUR 46 million of “green credit line” will allow the financing of projects in the sectors of renewable energies, sustainable agriculture and green tourism in Namibia.

Since 2006, 42 SUNREF projects have been successfully implemented, in partnership with 70 local banks in some 30 countries of operation, for a total commitment of over EUR 2.5 billion of loans allocated by AFD, of which EUR 1.2 billion has been disbursed.

 Representatives of the three local partner banks: NedBank, Bank Windhoek and First National Bank of Namibia

 The InnoSun Aussenkehr Solar 5MW Plant Project
In order to encourage investment, the loan to the bank’s client is provided with incentives as well as laying down conditions as duration, rate, investment premium, etc.).

In addition, SUNREF offers a platform for a set of complementary and continuously available resources to measure the impact of projects, to train old banks of advanced technologies and methods allowing them to offer better advice and products to their customers.

This program developed by AFD and deployed by its Namibian partner Environmental Investment Fund of Namibia was an opportunity to reaffirm the joint commitment of Namibia and France to fight against climate change.

Last updated on: 7 June 2018
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