DBN approves loans worth N.dollars 1.883.9 billion in 2014

WINDHOEK: The Development Bank of Namibia (DBN) approved loans worth N.dollars 1.883.9 billion during 2014, compared to N.dollars 840.1 million approved in 2013.

Statistics provided by the DBN’s Manager for Corporate Communications Jerome Mutumba this week show that the largest portion of N.dollars 947.4 million – which takes up 50.3 per cent of the total allocation – was given to the Erongo Region for developmental projects in various sectors.

Projects at national level, which include corporate entities that have branches in other regions, had the second-highest share of approvals at N.dollars 305.6 million, compared to N.dollars 250.3 million in 2013.

Projects in the Khomas Region featured at N.dollars 253.9 million.

The Omusati Region was in fourth position with N.dollars 123 million, followed by the Oshana Region with N.dollars 58.9 million.

The majority of approvals – 80.7 per cent – were made in the secondary sector, of which N.dollars 500 million (33 per cent) was allocated to the National Energy Fund (NEF) for fuel storage approved in the fourth quarter of November 2014.

The tertiary industries followed with N.dollars 362.4 million (19.2 per cent) and primary industries with N.dollars 1.5 million (0.1 per cent).