Namibia secures port development funding

The African Development Bank (AfDB) and Namibia have signed a ZAR 2.9 billion (US$ 338 million) loan to the Namibian Ports Authority (Namport) to finance the construction of a new container terminal at Port of Walvis Bay.

US $1.5 million has also been awarded to the Government of Namibia for logistics and capacity building, complementing the port project loan.

The Namport development is part of Namibia’s National Development Plan, which aims to position the country as a regional logistics hub by 2017.

The project is expected to enable Namport to triple the container-handling capacity at the Port of Walvis Bay from 350,000 containers to 1,050,000 containers a year.

It will also finance the purchase of up-to-date port equipment and the training of pilots and operators for the new terminal.