THE Development Bank of Namibia (DBN) and the French Development Agency (AFD) have signed an agreement for N$5 million for AFD financing of two DBN economic research programs.
The DBN said the first research program intends to study opportunities in affordable housing and the second will focus on the development of Namibian women entrepreneurs.
According to the Director General (CEO) of DBN, Martin Inkumbi, the objective of the affordable housing program is to understand the market barriers that hinder the development of low-cost housing programs.
He said the program will also seek to understand ways to incentivize low-cost housing construction and appropriate financing products for individuals to purchase such properties.
The second program aims to study the dedicated financing and support programs required for women entrepreneurs.
The research will also strengthen DBN’s impact by creating market profiles for women and developing tailored products.
Inkumbi said the program will also provide the bank with an understanding of the barriers that hinder economic inclusiveness.
The French Ambassador to Namibia, Sébastien Minot, described this agreement as a new step towards Franco-Namibian cooperation since it is the first collaboration between AFD and DBN.
He said France was committed to the Sustainable Development Goals (SDGs), such as SDG 11, which focuses on sustainable cities and communities, and SDG 5, which focuses on gender equality. .
According to AFD’s Regional Director for Southern Africa, Bruno Deprince, the results of the studies and analyzes financed could help in the development of new financial products likely to meet the needs identified within the framework of the project. He said that AFD looks forward to implementing these results and collaborating with DBN.
Inkumbi said DBN is not only a source of finance but also a knowledge bank that focuses on developing economic activity.
He explained that development impact depends on the bank’s ability to use financial resources wisely and efficiently.