Tonderai Katswara
23 April 2008
Windhoek — THE Development Bank of Namibia (DBN) has doled out N$145,8 million for new projects approved for financing between December and last month.
DBN Chief Executive Officer David Nuyoma yesterday announced in Windhoek that the approved projects would create 219 new permanent jobs and 665 temporary, while retaining 2 103 jobs.
The projects are located throughout the country and are in different sectors ranging from energy and telecommunications to road infrastructure and construction.
"We are aiming at economic diversification," said Nuyoma.
The lion's share went to Namibia Dairies, which received N$40,1 million for the establishment of a super farm in the Hardap Region.
Nuyoma said his bank was particularly pleased with this project, which would boost economic development in that region.
The super farm is expected to enhance local dairy production, reduce production costs of raw milk and improve dairy supply for Namibia.
Global milk production has drastically reduced and super farms are being established to reverse this trend and up production.
Other companies that received loans for various projects were Nomad Aviation, NamPort, IWG Construction, Havana Properties, Urban Construction, BCR Civils and Cenored.
At the same occasion, Nuyoma said the DBN facility to small and medium enterprises (SMEs) in partnership with Bank Windhoek had come to an end.
"N$63 million has been extended to 78 SMEs since the launch of the partnership in 2005.
This facility has now come to an end as the funding earmarked for it has been fully disbursed."
Nuyoma said an announcement would soon be made on the form of support DBN would lend to the SME sector.
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