AA / Kinshasa / Pascal Mulegwa
The World Bank announced on Wednesday budget support of $250 million for fundamental economic governance reforms and $500 million to strengthen transport and connectivity in the Democratic Republic of Congo (DRC).
“These two operations represent enhanced engagement and dialogue between the DRC and all levels of the World Bank Group. This dialogue has allowed us to redefine and take our partnership to a new level, which – we hope – will benefit the more than 90 million inhabitants of the country”, declared, in a press release, Jean-Christophe Carret, World Bank country director for the Democratic Republic of Congo.
The signature of the two financing agreements was carried out on Wednesday between the Minister of Finance Nicolas Kazadi and the international financial institution.
“The return of budget support after more than fifteen years is a sign of the government’s commitment to strengthening governance, unlocking growth potential in key economic sectors and improving the living conditions of the Congolese people. “, declared Nicolas Kazadi.
He considered that this support “testifies to the warming of development cooperation with our technical and financial partners and should catalyze substantial flows of funding, enabling the government to meet the country’s immense development needs”.
The budget support will support the government’s reform agenda aimed at addressing key governance challenges in the areas of public finance, market opening and forest management, with the aim of accelerating green development. , resilient and inclusive, explains the bank.
In addition, “it will support transparency, as a prerequisite for strengthening government accountability, and the sustainable management of the DRC’s vast rainforest, which is essential for maintaining the livelihoods of the Congolese people and represents a carbon sink of planetary importance”.
The transport and connectivity support project is the first in a series of three projects aimed at providing safe, resilient and sustainable transport and digital connectivity in and between the Kasaï region (Centre) and the eastern part of DRC, while supporting the strengthening of sector governance.
The funds are expected to support the government’s ambitious program to better integrate the country by restoring the East-West road transport link, upgrading key transport infrastructure and improving digital connectivity.
“Specifically, it will finance the modernization and paving of 440 km of climate-resilient roads in the provinces of Kasai and North Kivu, while laying optical fiber infrastructure along the roads financed by the project”, specifies the statement from the institution.
Both projects will be financed by the International Development Association (IDA) of the World Bank.
Founded in 1960, it helps the world’s poorest countries by providing grants and loans at very low or no interest for projects and programs that stimulate economic growth, reduce poverty and improve the lives of the poorest.
On its digital portal, IDA claims to be among the leading donors to the world’s 74 poorest countries, 39 of which are in Africa.
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