Title: Restructuring of the DRC Social Fund: the World Bank reassured by the Congolese authorities
The Presidency of the Republic, through the Chief of Staff of the Head of State, Guylain Nyembo, has dispelled any misunderstanding regarding the suspension of disbursements for three projects financed by the World Bank following the dissolution of the Social Fund of the Democratic Republic of Congo (FSRDC). Guylain Nyembo, in a press release published on Wednesday, May 17, said that the Congolese authorities and the World Bank group, during a meeting held on May 15 in Kinshasa, converged their views on the restructuring of the FSRDC.
The restructuring of the FSRDC was guided by the sole concern to comply with the Constitution and the laws of the Republic. The main mission of the FSRDC is to improve the living conditions of the Congolese population. The projects supported by the World Bank through this state structure relate to the prevention and response to gender-based violence, stabilization and recovery in eastern DRC.
The World Bank, which finances three development projects in the DRC through the FSRDC, has taken note of this restructuring and the two parties, who had anticipated discussions on the issue, will jointly establish the terms of the transitional period to calmly continue the ongoing operations, as reported in a recent World Bank statement.
In a statement issued on May 16, the World Bank informed that the government of the Democratic Republic of Congo has dissolved the FSRDC, which is the legal entity responsible for the implementation of three projects financed by the World Bank. However, the World Bank and DRC authorities are currently working on identifying transitional arrangements for the implementation of these three projects to minimize disruptions to project activities and any negative impact on project beneficiaries. .
In short, the restructuring of the DRC Social Fund will not affect the financing granted by the World Bank for the development of the DRC. The Congolese authorities have reassured the World Bank about the legal motivations for this reform and are currently working with it to find transition solutions in order to calmly continue the operations in progress.