African Development Bank approves landmark $1.78 billion strategy to support transformation of Namibia's economy and create jobs
Namibia, Dec. 3 -- The African Development Bank Group's Board of Directors has approved a Country Strategy Paper (CSP) for Namibia committing $1.78 billion to support economic transformation and inclusive growth in the 2025-2030 period.The financing is expected to pave the way job for creation and economic diversification while also addressing key challenges facing of the world's most unequal countries: youth unemployment exceeds 40 percent, and per capita income has fallen from $5,942 in 2012 to $4,240 in 2024. The strategy focuses on two priorities. The first is investment in transport, energy, and water infrastructure to reduce business costs, enhance productivity, and establish Namibia as a regional logistics hub. These investments will...
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