Windhoek: The Ministry of Finance has warned that the government does not borrow money through unsolicited proposals from private individuals, companies, or agents acting on behalf of investors. According to Namibia Press Agency, the ministry in a press release stated it had received numerous funding proposals from private entities and agents representing investors seeking an investment home in Namibia. Some of these proposals identified specific projects and suggested the appointment of contractors to implement them on behalf of the government. "The government does not borrow money for funding for projects from unsolicited bids through individuals, private companies, or agents acting on behalf of private companies or individuals," the ministry declared. The ministry emphasized that all government infrastructure development projects and funding arrangements must adhere to established procedures as outlined in the National Planning Commission (NPC) Act, 2013 (Act Number 2 of 2013) and the State Finance Act, 1991 (Act Number 31 of 1991). Under the State Finance Act, the Minister of Finance is authorized to undertake public borrowing both domestically and externally. This is to finance deficits in the State Revenue Fund, obtain foreign currency, and fund capital projects. The Act also allows the minister to enter into agreements with banks or other financial institutions, including the Bank of Namibia, international banks, or foreign financial institutions. The minister can issue Treasury bills and public stock within or outside Namibia and issue bills of exchange or debentures for terms not exceeding 12 months. The ministry further noted that under the Public Procurement Act (Act Number 15 of 2015), procurement of State funding must be conducted through a competitive bidding process. This process may include engagement with foreign governments or through public auctions in the domestic or international market. Local and foreign investors with available funds to finance infrastructure in Namibia are invited to participate in the weekly government auctions for Treasury bills and bonds offered by the Bank of Namibia. The ministry added that investors might also participate in international bond issuances, which the government occasionally undertakes, with details publicized at the time of issue through mandated bond arrangers.