Namibia will benefit from a $218 million loan provided by the African Development Bank (AfDB), a bank’s statement revealed July 18.

The money will be injected into the 2018-19 budget as to underpin public finance management, and improve spending’s efficiency and quality. Under the national development plan which aims to make the economic environment more attractive, the new financing is expected to pave the way for industrialization through support to key business environment reforms.

Let’s note that the AfDB loan is the second tranche of a credit line committed to Namibia’s Economic Governance and Competitiveness Support Program (EGCSP), which is at second development stage.

Moutiou Adjibi Nourou