Ndove heads environmental fund
10 July 2020 | Environment
The EIF was established in 2011 to mobilise funding for the maintenance of an endowment fund to generate income for projects towards the sustainable use of managing the environment.
Shifeta said that despite a difficult economic and financial climate, the EIF was able to mobilise approximately N$560 million in grants for projects relating to climate change adaptation interventions.
Further, EIF has been instrumental in the establishment of a credit facility known as the Sustainable Utilisation of Natural Resources and Energy Financing Programme worth approximately N$800 million, supported by the French Development Agency.
The EIF also received 30% of all environmental taxes on incandescent bulbs, tyres and carbon emissions, plastic bags, lubricant oils and batteries, and to date the EIF has received N$31 million from the finance ministry. – Nampa