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German Development Bank Opens in Namibia
THE GERMAN Development Bank has just recently opened an office in Namibia which was officially inaugurated by Prime Minister, Nahas Angula. Germany is Namibia's biggest development partner and its development aid to Namibia has amounted to 371 million euros (around N$3.6 billion) since Independence.
About 250 million euros of this amount was allocated for programmes and projects under German financial cooperation through the GDB. Since 2001, Namibia and Germany have restructured their development cooperation along three focal areas of natural resources, management and rural development, and transport and promotion of the economy.
On behalf of the German federal government, the GDB promotes social and economic development worldwide, and the bank has been active for more than 40 years in more than 100 countries.
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