Windhoek – The Development Bank of Namibia (DBN) hereby announces its official accreditation by the Green Climate Fund (GCF) as a Direct Access Entity (DAE) under the medium-sized project category. This landmark achievement was confirmed during the GCF’s 42nd Board Meeting held in Port Moresby, Papua New Guinea, from 30 June to 3 July 2025.
DBN is the first Namibian institution to gain GCF accreditation as a Direct Access Entity (DAE) for medium-scale funding, beyond entities previously accredited solely for grant funding. The GCF accreditation marks a transformative milestone for Namibia, granting DBN direct access to international climate finance and empowering DBN to independently propose and implement high-impact projects that address both climate change mitigation and adaptation. This affirms the Bank’s alignment with international best practices across financial, environmental, social, and gender systems, and positions DBN to catalyse inclusive green growth by leading climate-smart investments that support sustainable economic development.
The accreditation also aligns with DBN’s Integrated Strategic Business Plan (2024–2029), which underscores the Bank’s commitment to long-term financial sustainability. Central to this plan is the pursuit of sustainable profitability and the implementation of a forward-looking funding strategy designed to explore global green and impact investment markets. By diversifying its funding sources, DBN aims to establish an optimal funding mix that minimises capital costs, enhances financial resilience, and contributes to reduced financing costs across the Namibian economy.
The GCF, established as part of the Paris Agreement, is the world’s largest dedicated climate fund. Its mission is to support developing countries in achieving their climate goals by facilitating low-emission and climate-resilient development. With this accreditation, DBN is now eligible to design, submit, and implement climate adaptation and mitigation projects valued between USD 50 million and USD 250 million, directly accessing international climate finance without intermediaries.
Speaking on the accreditation, Jerome Mutumba, DBN’s Chief Marketing and Corporate Affairs, said the accreditation is not just an institutional milestone; it is a national breakthrough. “As a GCF-accredited entity, we are now equipped to mobilise climate finance and unlock green investments that will advance Namibia’s climate ambitions through impactful partnerships and sustainable development initiatives,” he emphasised.
DBN will now focus on strengthening its project origination and development capabilities by building a robust pipeline of climate-aligned initiatives. This includes enhancing the technical quality and readiness of concept notes to meet GCF standards and working collaboratively with public and private sector stakeholders to mobilise funding for impactful green investments across Namibia.
About the Green Climate Fund
The Green Climate Fund is a global fund created to support the efforts of developing countries to respond to the challenge of climate change. It helps fund climate adaptation and mitigation initiatives and is a critical component of the United Nations Framework Convention on Climate Change (UNFCCC).
About DBN
The Development Bank of Namibia is Namibia’s leading development finance institution, dedicated to financing projects that advance socio-economic growth and sustainable development. With a focus on innovation, infrastructure, and emerging industries, DBN supports national development priorities through strategic financing solutions.
