European Commission President Ursula von der Leyen and Namibian President Hage Geingob, on the eve of the Global Gateway Forum, have officially endorsed a strategic partnership roadmap between the European Union (EU) and Namibia. This partnership places a strong emphasis on developing sustainable raw materials value chains and advancing renewable hydrogen initiatives, with the EU and its Member States, along with European financial institutions, committing a substantial €1 billion investment.
One of the significant elements of this partnership involves supporting a study for the transformation of the Port of Walvis Bay into a regional industrial and logistics hub. This move aligns with Namibia's abundant renewable energy potential, positioning the nation as a key player in the green hydrogen sector. The EU-Namibia partnership is designed to drive green industrialization, facilitate the decarbonization of economies, generate employment opportunities, and contribute to a more environmentally sustainable future.
The operational roadmap, spanning from 2023 to 2025, details specific actions that correspond with the six pillars outlined in the Memorandum of Understanding signed in November 2022. These actions encompass integrating value chains, incorporating environmental, social, and governance criteria, mobilizing funding for infrastructure projects, facilitating capacity building, promoting research and innovation cooperation, and aligning regulatory frameworks.
Additionally, the EU is committed to supporting the development of the Port of Walvis Bay, aiming to establish it as a crucial gateway for international trade within the Southern African Development Community region.
This strategic partnership solidifies Namibia's commitment to transitioning towards a more environmentally sustainable future and reinforces the EU's dedication to securing a sustainable supply of critical raw materials, which are vital for achieving green and clean energy goals.
The announcement was made during the Global Gateway Forum, which serves as a platform to promote global investment in infrastructure and sustainable growth. The forum's primary objective is to mobilize up to €300 billion in both public and private investments to advance smart, clean, and secure connections, ultimately enhancing the prosperity and security of partner nations and Europe as a whole.