WASHINGTON, USA, 09 January 2025 -/African Media Agency(AMA)/- The World Bank’s Board of Executive Directors discussed a new Country Partnership Framework (CPF) for Namibia, which outlines the World Bank Group’s strategy in the country for FY2025 to FY2029. The CPF’s overarching goal is to support Namibia to promote economic growth and reduce inequality in a sustainable manner, by facilitating job creation and better access to quality public services.
This goal is aligned with the government of Namibia’s strategic vision development priorities as articulated in Vision 2030 and the Second Harambee Prosperity Plan for 2020-2025.
The five-year CPF is centered on two high-level, long-term outcomes: (i) increased employment and (ii) improved access to quality public services, underpinned by a cross-cutting theme of digital transformation. The first high-level outcome focuses on increased access to renewable and green energy; improved enabling environment for private sector-development; and strengthened macro-fiscal management. The second high-level outcome focuses on improved efficiency in education and health services and improved housing and urban services. Through the cross-cutting theme of digital technology integration, the CPF aims to drive economic growth by enhancing access and affordability of digital services, improving tax administration, and strengthening service delivery.
These objectives build on previous lessons and engagement under the FY14-20 Country Partnership Strategy (CPS), recent Advisory Services and Analytics (ASA) work, and the Systematic Country Diagnostic (SCD) and Country Private Sector Diagnostic (CPSD).
“This CPF represents a significant shift in the World Bank Group’s engagement in Namibia, which was limited to knowledge and technical cooperation under the previous strategy. We are pleased to have responded to the country’s interest in borrowing through the first operation approved in May 2024, and will build on this in the next five years. Through this CPF, we aim to enhance the quality of life and economic prospects of Namibia’s people by prioritizing access to housing, health, education and renewable energy, among others,” saidSatu Kahkonen, World Bank Country Director for Namibia.
“Harnessing the potential of Namibia’s private sector is essential for driving inclusive economic growth. Through this CPF, we are committed to supporting the country in creating a more conducive environment for private sector investments in sectors such as housing, digital, renewable energy and agribusiness. By fostering private sector growth, Namibia can boost job creation, strengthen resilience to economic shocks, and reduce inequality,” said Cláudia Conceição, International Finance Corporation (IFC) Regional Director for Southern Africa.
The CPF operationalizes the “One World Bank Group“ approach through the Joint Country Representation model. The approach focuses on mobilizing private capital using a comprehensive range of instruments from the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA).
The Joint Country Resident Representative is a single point of contact for access to the full breadth of World Bank Group products and services. The role aims to enhance the institution’s ability to address global challenges, and drive development with speed, efficiency, and impact.
“Our focus is clear – we aim to support job creation and increase access to quality public services. By prioritizing renewable energy and fostering a favorable environment for private sector development, we strive to help the country unlock its full potential and drive sustainable economic growth for the benefit of all Namibians. Having a presence on the ground will enable us to better support Namibia and help the country build a more resilient and inclusive economy, benefitting all its people,” said Mariama Cire Sylla, the World Bank Group’s Joint Resident Representative for Namibia.
“Private capital will be instrumental as Namibia pursues its green growth strategy. The World Bank Group Guarantee Platform is working to deepen its engagement in the country, leveraging its existing support to private investors in the energy and tourism sectors, and exploring new opportunities in emerging technologies,” said Sebnem Erol Madan, MIGA Director of Economics and Sustainability.
The CPF reflects consultations with key stakeholders, including the government, private sector, and development partners.
Distributed by African Media Agency (AMA) on behalf of the World Bank Group.
Contacts:
In Windhoek: Lavinia Engelbrecht, lengelbrecht@worldbankgroup.org & Nkatya Kabwe, nkabwe@ifc.org
In Washington: Daniella van Leggelo-Padilla, (202) 473-4989, dvanleggelo@worldbank.org
About Joint Country Representation: Namibia is one of 21 World Bank Group offices transitioning to a single World Bank Group Country Manager or Resident Representative for the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA). The introduction of joint country representation is an important step towards building a stronger World Bank Group. The approach aims to maximize the effectiveness of World Bank Group interventions while addressing the pressing needs of partner countries.
About the World Bank Group: The World Bank Group has a bold vision: to create a world free of poverty on a livable planet. In more than 100 countries, the World Bank Group provides financing, advice, and innovative solutions that improve lives by creating jobs, strengthening economic growth, and confronting the most urgent global development challenges. The World Bank Group is one of the largest sources of funding and knowledge for developing countries. It consists of the World Bank, including the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). For more information please visit: www.worldbank.org, www.miga.org,and www.ifc.org.
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Source : African Media Agency (AMA)
