Staff Reporter
The Development Bank of Namibia (DBN) has secured a US$1 million grant from the Green Climate Fund (GCF) to strengthen Namibia’s climate finance ecosystem and support investment in climate-resilient and low-carbon development initiatives.
The funding was approved under the GCF Readiness and Preparatory Support Programme and follows DBN’s accreditation to the Green Climate Fund in July last year.
According to DBN, the grant will support the implementation of a programme titled Strengthening Institutional Capacity and Catalysing Private Sector Climate Investments in Namibia over the 2026-2027 period.
The programme is expected to strengthen the bank’s institutional capacity, systems and technical readiness to mobilise and manage climate finance.
It will also focus on increasing private sector participation in climate mitigation and adaptation investments and support the development of a pipeline of bankable climate projects.
A key outcome of the programme will be the preparation of concept notes and funding proposals for submission to the Green Climate Fund.
Through its accreditation, DBN could directly access up to US$250 million in climate finance from the GCF to support climate-related initiatives in Namibia.
DBN chief marketing and corporate affairs officer Jerome Mutumba said the grant reinforces the bank’s role in mobilising climate finance.
“This milestone strengthens DBN’s ability to unlock climate finance and direct it towards impactful investments that support Namibia’s transition to a resilient and low-carbon economy. It also creates an opportunity to crowd in private sector participation and scale up climate-related investments across key sectors,” he said.
Over the implementation period, the bank plans to engage stakeholders from government, the private sector and civil society through outreach programmes, capacity-building initiatives and collaborative platforms aimed at increasing participation in climate finance.
DBN has also encouraged stakeholders to participate in its ongoing call for climate-related project proposals to identify initiatives with potential for impact and scalability.
