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        NAMIBIA - OLD MUTUAL MIDINA FUND

        Signature(s)

        Amount
        € 4,000,000
        Countries
        Sector(s)
        Namibia : € 4,000,000
        Credit lines : € 4,000,000
        Signature date(s)
        10/03/2006 : € 4,000,000
        Other links
        Related press
        Namibia: EIB provides EUR 4 mio to Midina for infrastructure development

        Summary sheet

        Release date
        13 December 2005
        Status
        Reference
        Signed | 10/03/2006
        20040060
        Project name
        Promoter - financial intermediary
        Old Mutual MIDINA Fund

        Old Mutual Asset Managers (OMAM), PO Box 25549, Windhoek Namibia.

        • Tel. +264 61 299 3527
        • Fax +264 61 299 3528
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        Up to EUR 4 million equivalent
        Not applicable
        Location
        Sector(s)
        Description
        Objectives

        Provision of medium and long-term debt finance for infrastructure development projects in Namibia, alongside the Old Mutual MIDINA Fund.

        Eligible Final Beneficiaries are local authorities and state-owned enterprises or private companies cooperating with the public sector for the provision of public sector services.

        Environmental aspects
        Procurement

        All projects to be financed from the Bank’s loan must comply with Namibian environmental legislation and the Bank will ensure that the environmental impact assessment and mitigating measures are acceptable for each project it finances.

        OMAM will ensure that equipment, works and services to be financed from the Bank’s loan will be procured at the most advantageous prices, having regard to quality and efficiency, and that an open international bidding procedure will be followed where appropriate.

        Other links
        Related press
        Namibia: EIB provides EUR 4 mio to Midina for infrastructure development

        Disclaimer

        Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
        They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

        News & Stories

        Link to source
        Related press
        Namibia: EIB provides EUR 4 mio to Midina for infrastructure development
        Other links

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

        Media enquiries

        Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

        Zero tolerance against fraud and corruption

        The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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