Current events in the Democratic Republic of Congo report an important decision taken by national deputies. Indeed, during a vote which took place on Wednesday October 18, they adopted by a large majority a bill authorizing the ratification of the Financing Agreement of June 2, 2023 between the DRC and Trade & Development Bank. This financing is intended for the construction of the Kinshasa Financial Center.
According to information provided by the Minister of Finance, Nicolas Kazadi, the DRC and the TDB have concluded a financing agreement for a total amount of $127.5 million. This financing, on commercial conditions, will make it possible to carry out the construction project of the Kinshasa Financial Center. The objective of this project is to bring together the administrations of the Ministry of Finance, the Ministry of the Budget, as well as the three financial authorities and certain financial institutions.
This positive vote by deputies testifies to the importance given to this project by the Congolese authorities. By bringing together all these financial entities within the same center, the DRC seeks to optimize the management of its public finances, as well as coordination between these different institutions. This could have a significant impact on the effectiveness of the country’s financial management.
Now that the bill has been adopted at first reading by the National Assembly, it must be sent to the Senate for a second reading. If the Senate also gives its approval, the ratification of the Financing Agreement will be official and will allow us to move to the next stage of the project.
This decision by the deputies highlights the DRC’s desire to strengthen its financial sector and modernize its infrastructure. The Kinshasa Financial Center will play a key role in this process by providing a centralized space for all financial institutions in the country.
It now remains to closely monitor the progress of this project, as well as the next stages of its implementation. If everything goes according to plan, the Kinshasa Financial Center could become a symbol of the economic and financial development of the DRC, thus strengthening its position on the international scene.
References :
– “National deputies ratify the financing agreement for the financial center of Kinshasa”, Fatshimétrie, October 20, 2023, link: [article 1](https://fatshimetrie.org/blog/2023/10/20/les-deputes -nationals-ratify-the-financing-agreement-of-the-financial-center-of-kinshasa/)
– “The DRC and the Trade & Development Bank conclude a financing agreement for the construction of the Kinshasa Financial Center”, Fatshimétrie, October 20, 2023, link: [article 2](https://fatshimetrie.org/blog/2023/ 10/20/the-drc-and-the-trade-development-bank-conclude-a-financing-agreement-for-the-construction-of-the-financial-center-of-kinshasa/)