Namibia will receive a N$1.5 billion loan from Germany’s Kreditanstalt für Wiederaufbau (KfW) development bank to fund water projects.
The loan has a 20-year repayment period, with a five-year grace period.
The loan will be used by the Namibia Water Corporation (NamWater) under the Water Sector Support Programme II for four projects across the country.
This projects are the Omundaungilo–Omutsegwonime Bulk Pipeline Scheme (phases 1 and 2), the Oshakati–Ondangwa–Oshali–Omuthiya–Omutsegwonime Pipeline Replacement (phases 1 and 2), the Katima Mulilo Extension (Phase 2) and Package Plants (desalination units).
Finance minister Ericah Shafudah, during the signing ceremony on Monday said, the loan terms and conditions include a 10.09% interest rate.
“This funding is for the construction, rehabilitation, and upgrading of extensive bulk water infrastructure that will directly address the water supply challenges faced by communities, particularly in the northern regions,” said Shafudah.
In an age of information overload, Sunrise is The Namibian’s morning briefing, delivered at 6h00 from Monday to Friday. It offers a curated rundown of the most important stories from the past 24 hours – occasionally with a light, witty touch. It’s an essential way to stay informed. Subscribe and join our newsletter community.
The Namibian uses AI tools to assist with improved quality, accuracy and efficiency, while maintaining editorial oversight and journalistic integrity.
Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for
only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!
