5 December 2017
Content from our Premium Partner

African Development Bank (Abidjan)

Namibia Secures Zar 1 Billion African Development Bank Loan for Education Sector

Namibia's efforts to develop efficient basic, technical and vocational education (TVET) to cater to its development needs has received a boost from the African Development Bank (AfDB) which has approved a *ZAR 1 billion loan to finance the country's education and training.

The Project is designed to deliver an efficient effective and sustainable Technical, Vocational Education and Training (TVET) system in Namibia that is aligned with current and future skills needs of the labour market.

Specifically, the project will help to increase access, equity and quality TVET and basic education in the country. It will also support the development of basic education and TVET infrastructure in 11 regions of the country and strengthen the TVET and basic education systems through institutional capacity building. On completion, the Project will help reduce youth unemployment estimated at 34% (2016).

The Project will enable the Government to reduce poverty and youth unemployment, national goals specified in Namibia's Harambee Prosperity Plan; Fifth National Development Plan (NDP5: 2017/18-2021/22); Strategic Plan for the Basic Education Sector (2017/2022), and the TVET Transformation and Expansion Strategy (2016/2032).

It is aligned to the AfBD's Country Strategy Paper (2014-2018) - Private sector development through skills development and improving the regulatory environment necessary to drive the transformation of the Namibian economy.

The Project will be implemented in 60 months with the ZAR 1 billion AfDB loan and counterpart contribution estimated at ZAR 300 million from the Namibia Government.

US$1 = ZAR13.62 as at 5 December 2017

Copyright © 2017 African Development Bank. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.