The Development Bank of Namibia (DBN) on Thursday announced a facility to finance climate change adaptation, with a variety of affordable financing instruments available for such business projects.
DBN Chief Executive Officer Martin Inkumbi in a media statement said the facility provides an affordable and tailored financing solution for climate and environmentally friendly projects, adding that the bank has previously financed low-carbon renewable energy generation, water reclamation for industrial use in Walvis Bay, water storage in Neckartal Dam, and reclamation initiatives.
Finance for climate adaptation, he said, is critical and the bank has already pioneered financing models for renewable energy, and it is now focusing on energy and water efficiency, as well as mitigating the effects of rising temperatures.
Inkumbi stated that DBN has financed large-scale water infrastructure such as the Neckartal Dam and Aqua Utilities, which is semi-purified water for industrial use in Walvis Bay. However, in the face of prolonged droughts, businesses have an opportunity to invest in water efficiency, he said.
‘Investing in energy and water-efficient technology and processes reduces a company’s energy and water consumption per output, which lowers production and/or operational costs and improves profitability. Although water efficiency will not alleviate the drought, it can improve the bottom line of businesses while also protecting the environment’ he stated.
Inkumbi further urged businesses to examine their energy and water usage, as well as develop innovative methods for reducing water usage and associated costs.
He said the bank has experience with water reticulation for local governments and Public-Private Partnerships, adding that there is, however, still room for growth in terms of water recycling, reclamation, and storage in abattoirs.
Inkumbi concluded by urging engineers, architects, consultants, and project managers to lean more towards energy and water-efficient designs, as well as businesses to seek financing from the Bank.
‘Although you may have reservations about pitching new technologies and techniques, if you can demonstrate their feasibility, the bank will consider financing them,’ he advised.
Source: The Namibian Press Agency
