Benjamin Wickham
New York, United States of America, Sept. 20 — In an impassioned address to the international community at the Sustainable Development Summit High-Level Dialogue, President Dr. Hage G. Geingob of Namibia reaffirmed the global commitment to people-centred development and the aspiration to leave no one behind. Speaking at the 78th Session of the United Nations General Assembly, President Geingob shed light on Namibia’s unique development challenges and its innovative approach to financing sustainable development.
Eight years ago, the world collectively pledged to drive people-centred development that benefits all. The commitment to ensure that no one is left behind remains the guiding principle. However, Namibia’s path to development has been marked by various unforeseen challenges, including a commodity crisis, severe droughts, and the disruptive force of the COVID-19 pandemic. President Geingob also pointed out the unjust classification of Namibia as an upper-middle-income country due to its high per capita income, which doesn’t accurately reflect the historical colonial injustices where the white minority oppressed the black majority.
Despite these formidable odds, Namibia has consistently refused to see itself as a helpless victim. Instead, the nation has taken decisive action through the implementation of strategic policies like the 2019 Development Finance Assessment Report. This report advocates for using an Integrated National Financing Framework to mobilize purposeful capital for development.
Namibia has identified key opportunities to address sustainable development goals and climate change, including renewable energy, green hydrogen production, carbon-sequestering underwater kelp cultivation, sustainable water management, and clean synthetic fuel production. Through collaboration between the public and private sectors and strategic economic diplomacy, Namibia has harnessed these opportunities. Innovative financial instruments such as green bonds, sustainability bonds, grants, and official development assistance have been employed to mobilize over $1.2 billion in financing commitments by 2023.
President Geingob emphasized the importance of domestic resource mobilization to complement international efforts in meeting development needs. Namibia remains committed to scaling up its domestic resources to finance its development agenda. Additionally, he called upon international financing institutions, such as the World Bank, to review their Capital Adequacy Ratios to unlock more capital for lending to lower- and middle-income countries. This call for reform in the international financial architecture aims to broaden opportunities for supporting global development.
In concluding remarks, President Geingob stressed that sustainable and predictable financing is the foundation upon which all development priorities rest. Only by prioritizing this aspect can the world collectively get back on track to achieve its developmental ambitions.
President Geingob’s address serves as a testament to Namibia’s unwavering commitment to overcoming adversity and forging innovative pathways to sustainable development. His call for international cooperation and financial reform underscores the shared responsibility of the global community in realizing the United Nations’ Sustainable Development Goals.
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