The Democratic Republic of Congo knocks on the door of financial partners in order to materialize various structuring projects. During the plenary session held on Friday June 2, 2023 at the National Assembly of the DRC, six bills on the authorization of ratification of agreements and agreements for loans and financing credits were adopted. The Minister of Finance, Nicolas Kazadi, made the presentation on behalf of the government of the Republic.
These six texts were adopted without debate following the incidental motion of national deputy Lucain Kasongo. Of the 357 national deputies who took part in the vote, only one abstained and none voted no. The texts adopted in first reading will be sent to the Senate for a second reading.
The six credit ratification bills signed between the Democratic Republic of Congo and the various donors were adopted by the government of the Republic during the 98th meeting of the Council of Ministers held on Friday, May 12, 2023 under the leadership of the Prime minister, Jean-Michel Sama Lukonde Kyenge. They were presented and defended by O’Neige N’Sele, the Deputy Minister of Finance.
These include the bill authorizing the ratification of IFAD’s financing agreement of February 16, 2023, which concerns the financing of empowerment projects through the promotion of agricultural and rural entrepreneurship sensitive to inclusive nutrition and resilient. The total amount is USD 45.2 million, including loan no. 2000004468 of USD 32.56 million on extremely concessional terms, loan Loan No. 2000004470 of USD 4.5 million on ordinary terms of the Borrowed Resources Access Mechanism.
The government has also adopted the bill authorizing the ratification of financing agreement No. 7243-ZR concluded between the Democratic Republic of Congo and IDA for the financing of the Eastern Stabilization and Recovery Project (Starec ) for a total amount of 250 million USD.
The Democratic Republic of Congo relies on these various financial partners for development projects. The debt ratio of the DRC is around 17% of GDP and this places this country among the least indebted in the world. These signature differences had been expected for several years, especially since the arrival of the current Head of State at the head of the country. It is an improvement in the collaboration between the DRC and its main financial partners