The AfDB gives loan to Namibia for education and agriculture

6 Dec 17

The African Development Bank has approved a total of 2bn rand ($148m) in loans to support Namibia’s education and agriculture sectors.

 
The funds would help reduce youth employment by boosting technical and vocational training, as well as reducing food imports.
 
The development bank would finance 70.5% of an agriculture project while the government and other beneficiaries would contribute the remaining 25.5% and 4.0%, respectively.
 
The project would help enhance agricultural productivity to reduce import of staple food items, such as grains, create jobs and increase household incomes, particularly for those living in rural areas.   
 
It would be implemented by the country’s Ministry of Agriculture, Water and Forestry over a period of 5 years.
 
The education project would reduce youth unemployment which is currently estimated at 34%, the bank said.
 
It would also receive additional contribution from the Namibian government, the AfDB said.

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