The African Development Bank (AfDB) has announced plans to provide $1.78 billion in financing to Namibia over the coming years, supporting major transport, energy and water projects as part of its 2025–2030 country strategy, the bank said on Wednesday.
An AfDB spokesperson told reporters that the financial package — consisting mainly of loans with a grant component — aims to bolster Namibia’s economic transformation and infrastructure expansion. The total amount may be adjusted after a mid-term review of the strategy period.
The bank did not specify which projects will be financed but said the focus aligns with Namibia’s priority sectors.
Namibia, one of Africa’s most resource-rich states, has become a regional hotspot for global energy exploration. The government is targeting its first crude oil production by 2030, a development officials say could significantly reshape the country’s small economy and expand its fiscal space.
The AfDB has been a major financier of large-scale infrastructure and energy initiatives across the continent, with Namibia positioning itself as a future hub for oil, gas and green hydrogen.