• Plan includes recovery commission, audits and possible asset seizures

• Move aims to strengthen governance and support industrial development

The Democratic Republic of Congo’s Fonds de promotion de l'industrie (FPI) is seeking government support to recover nearly $300 million in overdue loans linked to major industrial projects.

Acting Industry Minister Justin Kalumba Mwana-Ngongo presented the proposal at a Council of Ministers meeting on April 10. Authorities said the debts have been identified, amounts confirmed and repayment deadlines have long passed, making recovery a priority.

State-Backed Debt Recovery Plan

Kalumba proposed direct state involvement to restructure the fund’s loan portfolio, including the creation of a special recovery commission.

The body would coordinate debt collection based on borrower profiles, distinguishing between cooperative and non-cooperative debtors. It would also oversee negotiated settlements where possible, launch recovery proceedings with police support and recommend asset seizures against insolvent borrowers in cases of persistent default.

Authorities also called for a detailed audit of the FPI’s loan portfolio to identify operational weaknesses, assess internal procedures and strengthen oversight. However, they said the urgency of the situation requires action before the audit is completed.

Governance and Industrial Policy

Beyond debt recovery, the initiative is part of broader efforts to strengthen governance and preserve the FPI’s operational capacity.

Founded in 1989, the FPI is a state-owned financial institution that supports industrial development in the DRC. It finances small and medium-sized enterprises, upgrades production equipment and invests in infrastructure linked to industrial activity.

Under the leadership of Hervé Claude Batukonke, the fund aims to strengthen domestic production capacity, promote local processing of natural resources and reduce reliance on imports.

Among the projects it has financed is Bags & Sacks, a manufacturer of polypropylene packaging.

Chamberline Moko