The African Development Bank (AfDB) announced on Monday that it is dedicating $208 million to support Congo’s economy. The loan is set to foster the implementation of the country’s economic and financial reforms support project (PAREF) which aims to create the conditions for sustained economic growth through the strengthening of fiscal consolidation and the recovery of the economy.
With this aid, Congo will better cope with the decline in tax revenues and the effects of the recent drop in oil barrel prices, which has led to a slowdown in economic growth. It will also improve debt and fiscal risk management by strengthening the government's fiscal mobilization capacities.
“By approving this operation, the bank will support Congo to finance its critical social expenditures, clear its external arrears and pay its internal arrears to support the private sector, which has been hit hard by the economic crisis,” said Abdoulaye Coulibaly who heads the Bank’s Governance and Public Financial Management Coordination Office.
As a reminder, the Pan-African Bank's portfolio in Congo-Brazzaville includes six operations in the public sector only, for an estimated $231 million in commitments.
Moutiou Adjibi Nourou
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
First Quantum to sell surplus sulfuric acid amid tightening supply Zambia disruptions, Middle East shortages cut sulfur supply...
Campus to train youth in coding, data, and artificial intelligence Backed by Axian Group, France, and the European Union Project supports Togo’s...
Cabinda and Soyo terminals granted to SOGESTER for 20 years Move aims to cut transport costs and increase cargo and passenger traffic Strategy targets...
Revenue climbs 29% in Q1 2026 despite lower production Gold output drops across key mines, except Lafigué Higher gold prices offset volume...
UK museum to return 45 Botswana artifacts after 150 years Items collected in 1890s; restitution follows Botswana request Return tied to...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....