Namibia Takes Up African Development Bank Shareholding
2020-03-05 19:46:18
Editor: xuxin
WINDHOEK, March 5 (Xinhua) -- The Namibian cabinet on Thursday announced a final plan to take up its full complement of shares in the African Development Bank (AfDB).
Minister of Information and Communication Technology Stanley Simataa said the Namibian government has decided to fully subscribe to the AfDB.
The announcement came after Minister of Finance Calle Schlettwein attended a recent AfDB board meeting.
"The cabinet took note of the approval by the AfDB on the seventh general capital increase of the bank and the consequent notification period for subscription," Simataa said.
Simataa added that the move to take up the full complement of shares offered to Namibia at AfDB will ensure the country secures its investments through subscription to the bank as well as benefit from the bank's loan schemes.
The Namibian government, Simataa said, has been accessing credit lines from the AfDB in the past few years.
Editor: xuxin
WINDHOEK, March 5 (Xinhua) -- The Namibian cabinet on Thursday announced a final plan to take up its full complement of shares in the African Development Bank (AfDB).
Minister of Information and Communication Technology Stanley Simataa said the Namibian government has decided to fully subscribe to the AfDB.
The announcement came after Minister of Finance Calle Schlettwein attended a recent AfDB board meeting.
"The cabinet took note of the approval by the AfDB on the seventh general capital increase of the bank and the consequent notification period for subscription," Simataa said.
Simataa added that the move to take up the full complement of shares offered to Namibia at AfDB will ensure the country secures its investments through subscription to the bank as well as benefit from the bank's loan schemes.
The Namibian government, Simataa said, has been accessing credit lines from the AfDB in the past few years.
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