The World Bank says Namibia's decision to add value locally to its green resources is the right approach to alleviating unemployment, particularly among the youth, and at the same time meeting the global objectives of green industrialization.
A delegation from the World Bank, led by the Regional Vice President for Eastern and Southern Africa, Dr. Victoria Kwakwa, paid a courtesy call at State House.
The Namibian government has prioritised addressing escalating unemployment through various policy interventions.
The most recent one is to add value to natural resources locally and create jobs in different industries.
President Geingob told the World Bank delegation that the new industries, such as oil and gas as well as green hydrogen, are further geared to help turn around economic fortunes.
The World Bank commended Namibia's deliberate moves to use green industries to solve the unemployment question.
Namibia allocates about 9.4% of its budget to the education sector.
While this is commendable, the World Bank says it is worrisome that the return on investment has not been desirable.