| DBN, Asian bank cooperate |
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| Written by Staff Reporters | |
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The Japan Bank for International Cooperation (JBIC) and the Development Bank of Namibia (DBN) this week signed a cooperation agreement. Koji Tanami, Governor of JBIC, and David Nuyoma, CEO of DBN, signed the agreement during the 4th Tokyo International Conference on African Development (TICAD IV).
The Memorandum of Understanding was signed in Yokohama in the presence
of President Hifikepunye Pohamba, Saara Kuugongelwa-Amadhila, Minister
of Finance, Hage Geingob, Minister of Trade and Industry, and Peter
Katjavivi, Director-General of the National Planning Commission.
On the basis of the memorandum, DBN and JBIC will cooperate by sharing information and views on financial activities and operational strategies, as well as the investment climate and macroeconomic developments in Japan and Namibia in order to increase trade and investment opportunities for organisations from both countries. As a member of the Southern African Development Community (SADC), Namibia has successfully promoted liberal economic policies under stable political conditions, and has thus earned the reputation of being among countries with the best investment environment in sub-Saharan Africa. This week, the government of Japan announced the establishment of the JBIC Facility for African Investment. Key features of the facility include the provision of local currency loans and advisory services, as well as increased the use of JBIC’s equity participation and guarantees facilities. The JBIC intends to strengthen its support for Japanese business activities in Africa, not only by utilising its traditional financing instruments, such as export credits, investment loans and untied loans, but also through the JBIC Facility for African Investment. The signing of the MOU is part of these efforts. |
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