A senior team from the World Bank visited the Development Bank of Namibia (DBN) last week to explore development co-operation between the two development financiers.
The discussions focused on the preparation of a technical background paper of the financial sector for the Namibia Climate Change and Development Report. Ajai Nair, World Bank Senior Financial Sector Specialist and Financial Sector Lead for Namibia; Etienne Sannicolo, Financial Sector Specialist, and Remi Jean Yves Francis Bealle, Financial Sector Consultant, met with Dr John Steytler, CEO of the Development Bank of Namibia and EXCO members on the preparation of a technical background paper of the financial sector for the Namibia Climate Change and Development Report.
Since launching its Sustainable Finance Framework last year, the DBN has increased its engagements with bi-lateral and multi-lateral funders to support its climate finance journey. The Framework has seven green categories, which aim to achieve the environmental objectives of climate change mitigation, sustainable use and protection of water and marine resources, protection and restoration of biodiversity and ecosystems and four social categories which aim to achieve the social objectives of raising living standards, increasing social inclusion, improving access to essential healthcare and education. The documents are available on the DBN website at: https://www.dbn.com.na/investors-relations/sustainability
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 the experience in the renewable energy sector will form the basis as the Bank aims to unlock new sectors such as green industrialisation.
DBN CEO, Dr John Steytler, said: “As a Bank, DBN has a strong ambition to be the partner of choice for innovative development solutions in Namibia. By leveraging on strategic development partnerships with other development finance institutions such as the World Bank, DBN will be able to achieve its vision.”
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