Namibia advances N$4.1 billion climate fund for industrial decarbonization
via The Namibian2 min read
The Namibian government has launched a joint multilateral development bank mission to finalize its Sectoral Transformation Investment Plan under the Climate Investment Funds’ Industry Decarbonisation Programme. This initiative aims to secure up to US$250 million approximately N$4.1 billion in concessional climate financing to support the transition of high-emitting sectors and expand green industries. The World Bank is coordinating the preparation process. Namibia was chosen for the global program due to its renewable energy potential. The resulting investment plan will serve as a roadmap for identifying priority investments, aligning state institutions, and reducing the high cost of capital. National Planning Commission director general Kaire Mbuende stated that the plan must focus on tangible economic transformation and local value creation, not just raw material export. He emphasized the need to address structural barriers like grid capacity, water supply, and regulatory readiness. World Bank lead energy specialist Nadia Taobane noted Namibia's strong position for a green energy transition, citing its renewable energy resources and mineral endowment. The Climate Investment Funds program seeks to deploy concessional resources to reduce risks associated with new technologies and mobilize commercial investment. The current mission follows technical groundwork from September 2025 and April working sessions. A US$500,000 approximately N$8.21 million initial project preparation
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