in Short

Namibia: Covid-19 Business Relief Loans Begin

From January 18, 2021, Development Bank of Namibia will provide Covid-19 relief loans to businesses. This funding will cover 3 months to a maximum of 6 months of working capital for businesses affected by COVID-19. The repayment period will be a maximum of 60 months and will be available both for existing DBN SME borrowers and for companies that are not yet clients of the Bank, provided that these companies have been in activity for at least 12 months. These funds come from a concessional loan agreement of N $ 450 million between DBN and the German Development Bank (KfW).

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