By Andrei Skvarsky.
The German government has pledged a concessional loan of 325m Namibian dollars (20m euros) to Namibia under a November 15 agreement to support small and medium enterprises (SMEs) and rural and remotely-located households in the African country.
The money would be provided by German state-owned development bank KfW to Namibian national postal operator NamPost.
A NamPost financial subsidiary, PostFin, would distribute it as microloans among about 28,000 SMEs and households, with a focus on women and disadvantaged persons, according to the German embassy in Windhoek.
The loan is expected to promote financial inclusion and help reduce poverty.
Sorry, comments are closed for this post.