DBN to help parastatals fund some development projects

DBN to help parastatals fund some development projects
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The Development Bank of Namibia (DBN) says it will help State-Owned Enterprises (SOEs) fund some of their development projects.
It said there is mutual opportunities for the DBN and SOEs in funding infrastructure maintenance, upgrade and development, to enhance national development.
DBN Head of Marketing and Corporate Communication, Jerome Mutumba, said SOEs can benefit from purposeful funding, allowing them to develop Namibia using corporate finance.
He said the bank had helped fund the Namibia Wildlife Resorts, Erongo RED and Nampost projects, among others.
Mutumba said the DBN will balance its sustainability with the impact it makes on development, stressing that funding the SOEs is important for their success.
The DBN official said the types of loans the bank will provide to the SOEs will depend on the size of the projects they are undertaking.
He said the bank wishes to achieve twin development impacts with projects it funds in growing the SOE's business, while achieving some social development.
Mutumba said water supply, electricity, roads, transport, serviced land and housing are some of the social impacts the DBN aims at.