National deputies adopted six bills authorizing the ratification of financing credit agreements and conventions on Friday, June 2, 2023 in the National Assembly of the DRC. These ratification bills were presented on behalf of the government of the Republic by the Minister of Finance, Nicolas Kazadi. This adoption was carried out without debate following the incidental motion of national deputy Lucain Kasongo.
These texts adopted in first reading will be sent to the Senate for second reading. Among the six texts, we find in particular the ratification of the financing agreement concluded between the Democratic Republic of Congo and IFAD for a total amount of 45,200,000 USD. This agreement aims to finance empowerment projects through the promotion of agricultural and rural entrepreneurship sensitive to inclusive and resilient nutrition.
The DRC is one of the least indebted countries in the world with a debt ratio of 17% of GDP. This assurance was given by the Minister of Finance during the general debate on the recent bills for the ratification of the credit agreements signed with the African Development Fund (ADF) and the International Development Association (IDA) during the plenary held Thursday, April 27, 2022 at the National Assembly.
These various financing agreements are indicative of the improved collaboration between the DRC and its main financial partners. This development is justified by the efforts made by the Head of State to restore the Congolese economy and enable sustainable development.
In short, the ratification of these credit agreements demonstrates the confidence of donors in the DRC and their commitment to support the economic and social development of the country.