DR Congo: AFDB supports economy


  1. PANA
    President Donald Kaberuka of the African Development Bank (AfDB) Group, current on a visit in Kinshasa, has encouraged the Congolese authorities to continue their economic stabilisation efforts, in order to reach the completion point of the Highly Indebted Power Countries (HIPC).
    AFDB
    The completion point is a necessary condition for cancellation of debts owed by DR Congo (DRC), including the debt accumulated with the AfDB.

    Kaberuka, who has announced that the AfDB has just initiated a new policy in favour of the post-conflict countries and so-called fragile states, said he was encouraged by the stabilisation of the Great Lakes region, before recommending the leaders of the regional countries to be open to regional integration.

    So, the AfDB and DR Congo have signed two memoranda of understanding, for water supply and sanitation of the towns of Kasangulu (Bas- Congo), Lisala (Equateur) and Tshikapa (Kasai Occidental) costing US$105 million.

    The other memorandum concerns socio-economic reintegration of the demobilised soldiers for US$22 million.

    The AfDB-DRC exchanges will help prepare the 2008-2012 strategic paper expected to meet the challenges and specific constraints in the country.

    The strategy is based on several areas, notably the eligibility of the DRC to the additional resources of the new policy in favour of fragile countries and AfDB's particular attention to the DRC projects, in support of the integration efforts in Central Africa (infrastructure, fight against HIV/AIDS and agriculture).

    The consultation and perpetuation of the forest ecosystems in the Congo basin, "second heartbeat of the earth," will be also a priority action for the ADB in the coming years.

    In its assistance plan for the DRC, the AfDB will also lay particular emphasis on the development of the private sector, notably the improvement of the business climate and funding, especially the mining sector, including the Tenke Fungurume project, costing US$100 million.

    The AfDB has put at the disposal of the DRC US$450 million for the development of all economic sectors in 2007 and over US$500 million in the next three years.

    A further US$25 million agreement was signed for the demobilisation, economic and social reintegration of the former combatants.




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