USAID grants N$19 million to Namibian Hydrogen Fund
The US government, through the USAID Mobilising Investment project, announced a grant of N$19 million (US$1 million) to Namibia Hydrogen Fund Managers (Pty) Limited to support the N$22 billion (US$1.15 billion) Sustainable Development Goals (SDG) Namibia One Fund.
Launched at the United Nations Climate Change Conference COP-27 in November 2022, the SDG Namibia One Fund is Namibia’s dedicated green hydrogen finance vehicle, and the designated funding partner to Namibia’s green hydrogen initiatives.
The fund will manage infrastructure projects for the production, transportation, transmission, storage, and utilisation of green hydrogen and its derivatives, which are expected to lead to a greener energy grid, job-creation, less emissions and sustainable economic growth in Namibia.
“In the global race to develop green hydrogen, Namibia is at the forefront. In fact, green hydrogen development is at the heart of the country’s Vision 2030. I applaud the government of Namibia for recognising that hydrogen presents the country with the unique opportunity to develop a low-carbon industry,” highlighted US ambassador Randy Berry.
Launched in May 2023, the five-year USAID Mobilising Investment project addresses funding gaps in Southern Africa’s investment ecosystem.
By catalysing an increased flow of private capital into the economy, the project hopes to help increase employment, decrease poverty and reduce inequality across the region.
The project operates across 10 southern African countries, namely Angola, Botswana, Lesotho, Eswatini, South Africa, Madagascar, Malawi, Mozambique, Zambia and Namibia.