A delegation of the World Bank Group’s (WBG’s) board of executive directors (EDs) has noted South Africa’s and Namibia’s progress in achieving their development goals and has reaffirmed the bank’s commitment to providing support to the two countries.

The 11 EDs and alternate EDs were hosted by the World Bank and International Finance Corporation (IFC) country offices during their recent visit on July 7 to 13.

The visit provided a platform to assess progress with projects and engage on the evolution of the WBG’s relationship with the countries, from a knowledge-focused to a broader knowledge and financing partnership.

EDs met government and business leaders, local stakeholders and project beneficiaries, as well as experienced first-hand how the countries manage development priorities and challenges.

South Africa and Namibia have common challenges, including poverty, unemployment and inequality, the WBG points out. Throughout the visit, the delegation discussed the ongoing and future support from the institution to boost inclusive economic growth and job creation.

In South Africa, over the past three years, the country has shifted from being a non-borrowing client to having more than $1-billion a year in International Bank for Reconstruction and Development (IBRD) loans.

South Africa also constitutes the largest IFC portfolio in Africa and is the Multilateral Investment Guarantee Agency’s (MIGA’s) second largest on the continent.

Key highlights of the visit included a meeting with Finance Minister Enoch Godongwana and Electricity and Energy Minister Kgosientsho Ramokgopa.

The EDs also visited two IFC clients and two World Bank projects, which showcased support for key government priorities and demonstrated how these projects link to global issues and corporate initiatives such as energy and just transition, health, urban development and subnational government engagement.

The delegation had a tour of and stakeholder engagement at the Komati power station – the site of the Eskom Just Energy Transition project; the Addo Elephant Park that houses the Wildlife Conservation Bond; and the IFC-supported Trust for Urban Housing Finance and the BioVac Institute which manufactures vaccines locally.

Meanwhile, in Namibia, the WBG is preparing a new Country Partnership Framework (CPF) with the government that will strategically guide its support as the engagement continues to grow.

The World Bank recently approved a $138.5-million renewable-energy and transmission loan to State-owned power utility NamPower, after 15 years without IBRD borrowing.

Matteo Bugamelli, the World Bank’s executive director who represents the constituency of countries including Albania, Greece, Italy, Malta, Portugal, San Marino and Timor-Leste, expressed optimism about the countries’ progress.

He emphasised the WBG’s commitment to helping South Africa and Namibia address unemployment and inequality challenges.

He especially welcomed the increased financing to support the implementation of required reforms.