EU Disburses N$87 Million to State Revenue Fund

15 July 2011

Windhoek — The European Union (EU) this week disbursed about N$87 million to Namibia’s State Revenue Fund as part of its development cooperation.

According to a statement by the EU delegation, about N$47 million of the money would be used for rural road development.

“This is the final payment of the around N$ 114 million allocated for the roads component under the 9th European Development Fund (EDF) Rural Poverty Reduction Programme (RPRP),” the statement read.

As part of its commitment to help the government to reduce poverty and achieve sustainable development, the EU and the National Planning Commission Secretariat signed a Financing Agreement to the tune of ±$500 million in April 2005 to implement the RPRP.

The remaining N$ 40 million disbursed this week to the State Revenue Fund is dedicated to the Public Finance Management (PFM) reform.

It concerns the second and final payment under the 9th EDF PFM Support Programme about N$80 million aimed at improving and strengthening PFM for more efficient public service delivery and improved socio-economic development.

The two disbursements are the last to be made under the 9th EDF package that amounted to around N$900 million to support programmes and projects in the areas of rural poverty reduction and education over the period 2002 to 2007.

Priority areas are retained by the 10th EDF package which totals around N$1 billion for the period 2008-2013.

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