Billions for green hydrogen

The European Investment Bank (EIB) and Namibia today will sign an agreement, working towards the implementation of a loan by EIB Global to the government of Namibia of up to €500 million, or nearly N$8.9 billion at the current exchange rate.

The loan will allow for long term, sustainable projects, and investments, including renewable hydrogen, the European Commission (EC) said in a statement on its website.

EC president Ursula von der Leyen and Pres Hage Geingob also signed a memorandum of understanding establishing a strategic partnership between the EU and Namibia at the COP27 in Egypt.