Public Management

DR Congo gets 5-year $1.6bln US support for development projects

DR Congo gets 5-year $1.6bln US support for development projects
Friday, 23 July 2021 13:26

The Democratic Republic of Congo received last July 15, $1.5 billion from the IMF to support economic reforms over three years. This financing has paved the way for further support from other partners, including the US.

The US government approved on July 20 a $1.6 billion financing to the Democratic Republic of Congo. Signed by Paul Sabatine, Representative of the US Agency for International Development, and Samy Adubango Awotho, the Congolese Vice-Minister of Foreign Affairs, the new deal is part of the US-DRC partnership strategy.

The resources will finance social, economic, and environmental projects over 5 years. They will focus on promoting free and inclusive basic education, increasing access to quality health care, accelerating efforts to end the conflict in eastern DRC, and protecting the country’s biodiversity. New opportunities for economic growth are also targeted.

As a reminder, this agreement comes just after the IMF approved a 3-year reform program for the country. According to the institution, the program should catalyze financial support from other development partners and help stimulate private sector investment in the DRC.

"This is an investment in DRC to advance reforms and achieve common goals," said Paul Sabatine. "Achieving real and sustainable progress is possible through our government-to-government partnership and alliances with various groups of partners, including other donors, NGOs, civil society and private sector actors, as well as the communities themselves," he added.

The new strategy also aims to provide humanitarian and development assistance in key provinces of the country.

Moutiou Adjibi Nourou

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
• IMF extends Niger’s Extended Credit Facility (ECF) program by one year through December 2026.• IMF approves a $41 million disbursement tied to...
EBRD grants $100 million loan to Banque Misr to expand credit access for SMEs and women-led businesses. Loan supports Egypt’s green finance...
UTB’s restructuring delayed to end-2026 due to incomplete audits; reorganization plan expected by March. Despite a CFA 15.2B injection, the bank...
DRC launches campaign to diversify investors in government securities 98% of bonds now held by banks; aim is to reduce risk and broaden...
Most Read
01

• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....

UEMOA: Inflation Drops to 0.6% in May, Driven by Lower Food Prices
02

• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...

WAEMU Sees Easing Conditions on Regional Interbank Market
03

• The U.S. imposed a 20% tariff on cashew exports from Vietnam and a 40% tax on suspected transshipm...

U.S. Tariffs on Vietnam Cashews May Disrupt Trade, Hit African Growers (Interview)
04

Cauri Money launches Gajo Money, an e-wallet for the Cameroonian diaspora, targeting €120 mil...

Cauri Money Targets Cameroonian Diaspora with Digital Wallet Launch
05

• Qatar Airways and Kenya Airways establish strategic agreement, introducing a third daily flight be...

Qatar Airways Expands its Network in Africa, Building Presence in Kigali, Johannesburg, and Nairobi
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.