SME Bank and Environmental Investment Fund to finance energy projects in Namibia
A new financing mechanism is set to be launched by the SME Bank and the Environmental Investment Fund of Namibia in Windhoek next Thursday (September 26th).A new financing mechanism is set to be launched by the SME Bank and the Environmental Investment Fund of Namibia in Windhoek next Thursday (September 26th).
The Green Soft Loans initiative is aimed at providing an estimated
Namibian households with access to financing for green technologies such as solar water geysers, solar water pumps and solar lightning devices.
The Fund - through the SME Bank - will provide loans that support environmental sustainability as well as
socio- economic development in Namibia.
The scheme will be targeting customers at household level and borrowers will be able to access up to N$100,000 (€7,650) in financing, repayable in a maximum period of five years at an interest rate of around
percent, said the Fund in a statement.
Furthermore, the Environmental Investment Fund of Namibia will start providing concessional loans directly to borrowers for environment
related investments such as eco-tourism, sustainable farming practices, renewable energy and water efficiency technologies.