WASHINGTON, USA, 09 January 2025 -/African Media Agency(AMA)/- The World Bank’s Board of Executive Directors mentioned a brand new Country Partnership Framework (CPF) for Namibia, which outlines the World Bank Group’s technique within the nation for FY2025 to FY2029. The CPF’s overarching objective is to help Namibia to advertise financial development and cut back inequality in a sustainable method, by facilitating job creation and higher entry to high quality public providers.

This objective is aligned with the federal government of Namibia’s strategic imaginative and prescient improvement priorities as articulated in Vision 2030 and the Second Harambee Prosperity Plan for 2020-2025.

The five-year CPF is centered on two high-level, long-term outcomes: (i) elevated employment and (ii) improved entry to high quality public providers, underpinned by a cross-cutting theme of digital transformation. The first high-level end result focuses on elevated entry to renewable and inexperienced vitality; improved enabling surroundings for personal sector-development; and strengthened macro-fiscal administration. The second high-level end result focuses on improved effectivity in training and well being providers and improved housing and concrete providers. Through the cross-cutting theme of digital expertise integration, the CPF goals to drive financial development by enhancing entry and affordability of digital providers, enhancing tax administration, and strengthening service supply.

These aims construct on earlier classes and engagement underneath the FY14-20 Country Partnership Strategy (CPS), latest Advisory Services and Analytics (ASA) work, and the Systematic Country Diagnostic (SCD) and Country Private Sector Diagnostic (CPSD).

“This CPF represents a significant shift in the World Bank Group’s engagement in Namibia, which was limited to knowledge and technical cooperation under the previous strategy. We are pleased to have responded to the country’s interest in borrowing through the first operation approved in May 2024, and will build on this in the next five years. Through this CPF, we aim to enhance the quality of life and economic prospects of Namibia’s people by prioritizing access to housing, health, education and renewable energy, among others,” statedSatu Kahkonen, World Bank Country Director for Namibia.

“Harnessing the potential of Namibia’s private sector is essential for driving inclusive economic growth. Through this CPF, we are committed to supporting the country in creating a more conducive environment for private sector investments in sectors such as housing, digital, renewable energy and agribusiness. By fostering private sector growth, Namibia can boost job creation, strengthen resilience to economic shocks, and reduce inequality,” stated Cláudia Conceição, International Finance Corporation (IFC) Regional Director for Southern Africa.

The CPF operationalizes the “One World Bank Group“ strategy by the Joint Country Representation mannequin. The strategy focuses on mobilizing personal capital utilizing a complete vary of devices from the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA).

The Joint Country Resident Representative is a single level of contact for entry to the complete breadth of World Bank Group services and products. The position goals to boost the establishment’s skill to handle international challenges, and drive improvement with velocity, effectivity, and affect.

“Our focus is clear – we aim to support job creation and increase access to quality public services. By prioritizing renewable energy and fostering a favorable environment for private sector development, we strive to help the country unlock its full potential and drive sustainable economic growth for the benefit of all Namibians. Having a presence on the ground will enable us to better support Namibia and help the country build a more resilient and inclusive economy, benefitting all its people,” stated Mariama Cire Sylla, the World Bank Group’s Joint Resident Representative for Namibia.

“Private capital will be instrumental as Namibia pursues its green growth strategy. The World Bank Group Guarantee Platform is working to deepen its engagement in the country, leveraging its existing support to private investors in the energy and tourism sectors, and exploring new opportunities in emerging technologies,” stated Sebnem Erol Madan, MIGA Director of Economics and Sustainability.

The CPF displays consultations with key stakeholders, together with the federal government, personal sector, and improvement companions.

Distributed by African Media Agency (AMA) on behalf of the World Bank Group.

Contacts:

In Windhoek: Lavinia Engelbrecht, lengelbrecht@worldbankgroup.org & Nkatya Kabwe, nkabwe@ifc.org

In Washington: Daniella van Leggelo-Padilla, (202) 473-4989, dvanleggelo@worldbank.org

About Joint Country Representation: Namibia is one in every of 21 World Bank Group workplaces transitioning to a single World Bank Group Country Manager or Resident Representative for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). The introduction of joint nation illustration is a vital step in the direction of constructing a stronger World Bank Group. The strategy goals to maximise the effectiveness of World Bank Group interventions whereas addressing the urgent wants of accomplice nations.

About the World Bank Group: The World Bank Group has a daring imaginative and prescient: to create a world freed from poverty on a livable planet. In greater than 100 nations, the World Bank Group supplies financing, recommendation, and revolutionary options that enhance lives by creating jobs, strengthening financial development, and confronting probably the most pressing international improvement challenges. The World Bank Group is among the largest sources of funding and information for creating nations. It consists of the World Bank, together with the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). For extra info please go to: www.worldbank.org, www.miga.org,and www.ifc.org.

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