USAID grants N$19m to Hydrogen Fund
The US government, through the USAID Mobilizing 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 COP27 in November 2022, the SDG Namibia One Fund is Namibia’s dedicated green hydrogen finance vehicle and the designated funding partner for the country’s green hydrogen initiatives. The fund will manage infrastructure projects for the production, transportation, transmission, storage, and utilization of green hydrogen and its derivatives, leading 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 recognizing that hydrogen presents the country with the unique opportunity to develop a low-carbon industry,” US Ambassador Randy Berry, said.
Launched in May 2023, the five-year USAID Mobilizing Investment project addresses funding gaps in Southern Africa’s investment ecosystem.
By catalyzing 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 USAID Mobilizing Investment project operates across ten Southern African countries: Angola, Botswana, Lesotho, Eswatini, South Africa, Madagascar, Malawi, Mozambique, Zambia, and Namibia.