World Bank abandons climate funding targets
via The Namibian2 min read
The World Bank Group has removed its commitment to direct 45% of its annual lending towards climate co-benefits, a benchmark that was previously 35%. This decision comes despite the bank exceeding its own 2025 financial year goals with 48% of funding, equivalent to about N$838 billion, allocated to climate initiatives. The World Bank states it is not reducing climate funding but is extending its Climate Change Action Plan CCAP to focus on outcomes rather than inputs, aiming to prioritize the measurable impact of projects on greenhouse gas emissions and resilience. This change follows discussions at the World Bank spring meetings where US treasury secretary Scott Bessent argued that climate targets distracted the bank from its core mission of development and poverty reduction. The US, supported by Russia and Saudi Arabia, overrode opposition from nearly 100 nations, including China. More than 80 civil society organizations, including five operating in Namibia, have since sent a letter to World Bank Group president Ajay Banga and managing director Paschal Donohoe, accusing management of breaking past promises and demanding a one-year extension of the 2021-2025 CCAP to allow for transparent public consultations on a new five-year plan.
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This summary was AI-generated from a story originally published by The Namibian.
Namibia exported N$148 billion US$9.13 billion worth of mining and energy-related products to South Africa between January and May 2026, securing a trade surplus of over N$76 billion. During the same period, South Africa exported N$71.95 billion US$4.44 billion in similar products to Namibia, resulting in a N$76.05 billion US$4.69 billion surplus for Namibia in this sector. Precious metals continue to be Namibia's largest export category, with N$347.44 billion exported to South Africa in 2025. Other significant mining exports in 2025 included iron and steel products at N$8.96 billion, mineral products at N$6.63 billion, and chemicals at N$434.35 million. In 2025, Namibia's total mining and energy-related exports to South Africa reached N$368.57 billion, compared to South Africa's N$69.03 billion US$4.26 billion in exports to Namibia. South Africa's main mining and energy exports to Namibia were chemicals N$149.03 billion, iron and steel products N$83.08 billion, mineral products N$69.02 billion, and precious metals N$1.23 billion. While Namibia maintained a substantial trade surplus, its mining and energy exports to South Africa moderated by 19.6% annually between January and May 2026, falling from N$368.57 billion in 2025 to N$148.00 billion. Conversely, South Africa's mining and energy exports to Namibia increased by an annualised 4.25%, from N$69.03 billion in 2025 to N$71.95 billion in the first five months of 2026. Despite this moderation, mining and energy products rema
President Netumbo Nandi-Ndaitwah officially sent off Team Namibia to the 2026 Commonwealth Games in Glasgow, Scotland, during a flag handover ceremony at State House on July 15, 2026. This marks Namibia's eighth participation in the Games, which will take place from July 23 to August 2, 2026. The President commended the Namibia National Olympic Committee, coaches, and the entire team for their commitment to sports development and qualification. She also acknowledged the support from administrators, families, and others. President Nandi-Ndaitwah encouraged the athletes to represent Namibia with pride, integrity, humility, respect, and sportsmanship, emphasizing their role as both athletes and ambassadors. She highlighted the government's commitment to sports as a key priority, with investments in upgrading sports infrastructure across all 14 regions to empower young people and promote national development. The President expressed her best wishes to Team Namibia, urging them to inspire the next generation and carry the national flag with dignity.
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