Germany has recognized for the first time that it committed genocide in Namibia during its colonial rule. The country has also said that it will be asking for forgiveness and has promised financial support worth One billion Euros.

German settlers killed tens of thousands of tribal Herero and Nama people of Namibia between 1904 to 1908. The massacres were caused after the tribes had opposed the German rule in the territory which was then called German Southwest Africa.

“We will now officially refer to these events as what they are from today’s perspective: genocide,” German Foreign Minister Heiko Maas said in a statement on Friday.

“In light of the historical and moral responsibility of Germany, we will ask forgiveness from Namibia and the victims’ descendants for the atrocities committed,” he said.

As a gesture “to recognize the immense suffering inflicted on victims”, Germany will also support the “reconstruction and the development” of Namibia via a financial program of 1.1 billion euros ($1.34bn), he added.

 The sum will be paid over 30 years, according to sources close to the negotiations, and must primarily benefit the descendants of the Herero and Nama.