Namibia Launches Fund To Boost Infrastructure Development

WINDHOEK, Namibia, Namibia launched the Infrastructure Development and Investment Fund, aimed at mobilising financial resources for infrastructure, for a range of sectors in the country.

The country has a massive deficit of funding for infrastructure. We need to invest in infrastructure, to grow the economy, create jobs and to socially and economically uplift Namibians, said Johannes Gawaxab, chairperson of the fund.

Namibia has so far raised 550 million Namibian dollars (37 million U.S. dollars), for investments in water and energy sources.

The country aims to raise about 1.5 billion Namibian dollars in total.

Namibia aspires to become an industrialised country by 2030.

Source: NAM News Network