The Development Bank of Namibia (DBN) gave out loans amounting to N$284.6 million last year, it says in its latest newsletter. Between 14 July 2005, when the DBN’s first loans were announced, and 31 December 2007, loans to the value of N$ 476.63 million were approved. The yearly allocations are as follows: N$ 110.7 million in 2005, N$ 85 million in 2006 and N$ 284.6 million in 2007.

This excludes financing for SMEs, under a partnership with Bank Windhoek, totalling N$59 million as at December 2007, the bank said.
“All loans are regularly monitored as part of the DBN’s promise to involve itself in ongoing discussion with clients to ensure that projects’ success become more assured,” the bank said.
The DBN has specific products aimed at the public sector, like the Local Authority Facility and financing of public infrastructure that offer both financial and economic returns.
“Providing financing to Local Authorities is important to us as their services have a direct impact on communities’ health and well-being. Namibia’s policy of decentralisation further puts local authorities at the heart of the country’s development drive,” the bank said.
Some of the funding includes financial support to the Ongwediva Town Council, a port terminal at Walvis Bay, support for power generation and distribution and the upgrading of the Kavango Bridge.
CEO David Nuyoma said it is the projects’ development impact, and not the size, that matters to the bank.