DBN CEO Martin Inkumbi

DBN plans N$500m relief facility

DBN plans N$500m relief facility

Staff Writer The Development Bank of Namibia (DBN) is planning a N$500 million Covid-19 relief facility in the first quarter of 2021. According to DBN CEO Martin Inkumbi, this is in addition to the N$500 million made available by the Ministry of Finance to be offered by commercial banks. “The Bank, is committed to financing Namibian economic activity, and will take all feasible measures to ensure its health,” Inkumbi said. This comes as preliminary figures of the bank for the first two quarters to September of 2020/21 show the expected adverse impact of Covid-19 and risk-aversion on demand for SME…
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