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African Development Bank gives R2bn to support Namibia’s education

As the south-western nation battles unemployment.

The African Development Bank (AfDB) has approved a total of R2 billion ($148 million) in loans to boost Namibia’s education and agriculture sectors, it said on Tuesday.

The funds are aimed at helping reduce youth unemployment by boosting technical and vocational training, and reducing food imports by the South-western African country.

Both the education and agriculture projects will receive additional Namibian government contribution, the AfDB said.

The south-western nation’s unemployment rate jumped to 34% of the working population in 2016 from 28.1% in 2014, the last time a labour force survey was conducted by the Namibia Statistics Agency. 

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