Namibia's plans to issue green bonds for renewable energy and hydrogen projects are facing delays due to setbacks with an initiative from the European Union.
The country's Environmental Investment Fund has been actively preparing for this initiative, but the timeline for Namibia's sovereign green or sustainable bond issuance is uncertain.
Finance Minister Iipumbu Shiimi stated that the delay in achieving financial closure under the Green Bond Initiative has hindered progress. As a result, the anticipated issuance of these green bonds, which are crucial for advancing Namibia's environmental and energy goals, has not yet been finalized.