The African Development Bank (AfDB) has approved US$74mn loan to Namibia to finance the country’s education and training
The grant comes in line with Namibia’s efforts to develop basic, technical and vocational education (TVET) to cater to its development needs.
The project has been designed to deliver an efficient effective and sustainable technical, vocational education and training (TVET) system in Namibia that is aligned with current and future skills needs of the labour market.
In addition, the project is also expected to help in increasing access, equity and quality TVET and basic education in the country. It will also support the development of basic education and TVET infrastructure in 11 regions of the country and strengthen the TVET and basic education systems through institutional capacity building.
The AfDB has estimated that after completion, the project will reduce youth unemployment at 34 per cent.
The project is seen to enable the government to reduce poverty and youth unemployment, as specified as the national goals in Namibia’s Harambee prosperity plan, fifth national development plan, strategic plan for the basic education sector and the TVET transformation and expansion strategy.
This is aligned to the AfBD's country strategy paper (2014–2018) for private sector development through skills development and improving the regulatory environment to drive the transformation of the Namibian economy.
The project will be implemented in two years with the Namibian government contribution to US$22.17mn.
