DBN says it ensures integrity of lending through sound governance procedures

DBN says it ensures integrity of lending through sound governance procedures
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NAMPA

Although the Development Bank of Namibia may receive many good applications, it must still reject some, in order to select the best proposals for financing.
DBN senior communications manager, Jerome Mutumba, says there is a mutual responsibility in lending and borrowing, with regard to development finance.
He explains that lenders and borrowers share a responsibility to ensure that development finance achieves the intended purpose of supporting and enhancing economic activity.
Mutumba stresses that receiving development finance is a privilege, and only those that deliver the greatest impact in terms of the bank's mandate, can succeed.
The DBN spokesperson was discussing the successes of the Development Bank of Namibia, recently.
He said the DBN ensures integrity of its lending through sound governance procedures, but also through partnership with the borrowers, even after the amount has been disbursed.
Mutumba says the bank's track record shows that this partnership between itself and its borrowers delivers developmentally beneficial results.
Referring to recent reports of lapses in the repayment of debts by small and medium enterprises, Mutumba said loans that are not repaid, yields failure.