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LAZARUS NAFIDI HEAD: COMMUNICATION & CORPORATE AFFAIRS Environmental Investment Fund of Namibia

Funding the future of the green economy. LAZARUS NAFIDI HEAD: COMMUNICATION & CORPORATE AFFAIRS Environmental Investment Fund of Namibia. Content. Creation of the Environmental Investment Fund of Namibia. Overview of how the Fund is managed. ROADMAP TO CREATING THE EIF. Investment approach.

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LAZARUS NAFIDI HEAD: COMMUNICATION & CORPORATE AFFAIRS Environmental Investment Fund of Namibia

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  1. Funding the future of the green economy LAZARUS NAFIDI HEAD: COMMUNICATION & CORPORATE AFFAIRS Environmental Investment Fund of Namibia

  2. Content • Creation of the Environmental Investment Fund of Namibia • Overview of how the Fund is managed ROADMAP TO CREATING THE EIF Investment approach Impact to date PLANS FOR 2014/2015 • Focal areas of Green funding by the EIF Governance STRATEGIC FOCUS • Brief look at EIF financial delivery tools developed • An overview of the Fund’s green impact in Namibia • An excerpt of activities to come!

  3. Roadmap • 6th December 2001: • Namibia’s Parliament passes the Environment Investment Fund of Namibia Act • 1992: • ‘Founding President’ H.E. Sam Nujoma presents the Namibia Green Plan at the Rio Earth Summit. • 13th February 2012: • The Environment Investment Fund of Namibia is officially launched • Green Plan proposal included and accepted as part of the first National Development Plan (NDP1). • 1992: • The Namibian Green Plan.

  4. Governance “The powers and functions of the Board are to accountably, efficiently and properly manage and control the affairs and properties of the Fund and, for that purpose and in furtherance of the objects of the Fund.”

  5. Mission The Mission of the EIF is to promote the sustainable economic development of Namibia through investment in and promotion of activities and projects that protect and maintain the natural and environmental resources of the country.

  6. Our Strategic focus Natural Resources Management Green Technology Investments Tourism Concession and Development Sustainable Industrial practices (e.g. Responsible agriculture, mining & pesticide management) Research and development, education and awareness raising

  7. ‘‘...Our Financial Delivery Mechanisms…’’

  8. GRANTS • Features • Project investments that are not recoverable in monetary terms, • Investments envisaged to bear socioeconomic & livelihood returns • Full project implementation grants, maximum N$ 500,000 • Seed grants at N$ 10,000 • Civil society, private sector & individuals, etc.

  9. Concessional Loans • Features: • Ring fenced for green investments • Charged up to prime minus 4.25% with a permissible grace period of up to 12 months • Minimum loan N$ 500,000 • Maximum loan, N$ 4 million • Maximum 10 years repayment period Applications are assessed on merit comprising of social and economic development impact, high environmental impact, and financial return

  10. Bursaries and Research • Features: • Aimed at filling critical skills • shortage in Namibia • Supports both undergraduates • and post graduate students

  11. Sponsorship • Features: • Corporate social responsibility support to activities that integrates to our business model.

  12. ‘‘….Our Impact to date at a glance….’’ Green performance

  13. Total Grants Capital commitment N$ 8.4m 353 job opportunities Bursaries and research Awards N$ 1.3m Estimated Beneficiaries 10855 people Green Soft loan through SME Bank N$ 3 m

  14. Investment per focal area

  15. NRM, Biod Cons Green Technology Responsible mining Tourism & Research

  16. ‘‘Challenges’’

  17. General understanding of environmentally based enterprise development remains a challenge Green financing requires skills that are rare or very competent on the job market Green financing demands substantial amount of investments of which the Fund is unable to provide

  18. ‘‘highlights of the fund’’

  19. Winning the Global Sustainable Finance Award

  20. Winning the Global Sustainable Finance Award

  21. Association with EzyStove: the internationally Award-winning Energy-saving stove • Saves approximately 1,400 trees a year • 30,240 fewer hours a year spent collecting fuel wood which can be used for more productive activities • CO2 emissions per year reduced by 216 tones and 60% reduction in toxic emissions • Saves approximately N$ 50,200 a year on money spent on firewood • 1,060 Ezy Stoves were sold during Trade Expos between January 2012 and February 2013.

  22. New institutional partnerships: Launch of EIF/SME Bank Green Soft Loans

  23. First EIF Bursary awards

  24. Catalysing local level innovation

  25. This year … Increased coverage

  26. Going Forward… • Launch the concessional loan book portfolio • Unlock the potential of environmental levies in Namibia • The creation of “Green jobs”

  27. Going Forward… • Position the Fund to be a National Implementing entity for climate financing • Implement community adaptation to Climate change related impacts • Create awareness of sustainable consideration at local, regional, national levels • Support national research on E-Waste, used tyres, chemicals and toxic products

  28. Thank you for listening • info@eifnamibia.com • 2nd Floor Capital Centre, Independence Avenue, • Windhoek • Namibia • www.eifnamibia.com FACEBOOK AND TWITTER

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