Title: The Democratic Republic of Congo attracts record funding for its development
Introduction :
The Democratic Republic of Congo (DRC) is experiencing a considerable increase in funding allocated to its projects and programs thanks to the support of multilateral donors such as the World Bank, the African Development Bank, BADEA and IFAD. The figures recently announced by the Deputy Minister of Finance demonstrate a significant development, with a cumulative total increasing from $3 billion in 2020 to nearly $9 billion in 2023. This strong mobilization of external resources demonstrates confidence granted to the DRC for its economic and social development.
A gradual increase in funding:
According to the Deputy Minister of Finance, the resources mobilized each year are constantly increasing, with $1.85 billion in 2021, $2.6 billion in 2022 and $1.5 billion for the first half of 2023. This financing represents more than 70% of the DRC’s portfolio of externally financed projects and programs.
Sectoral distribution in favor of social and economic development:
The distribution of funding granted by multilateral donors favors priority sectors of government action in the DRC. Thus, the social sector occupies a preponderant place with 42.8% of allocated funds, followed by infrastructure (energy, transport, water and sanitation) at 28%, agriculture with 10%, governance at 9, 1%, finance at 5% and multi-sector at 5.3%. This distribution reflects the desire to support the human, physical and economic development of the country.
Support mainly in the form of donations:
The Deputy Minister of Finance also underlines that nearly 60% of the resources mobilized are donations, while less than 40% correspond to loans. This predominance of donations reflects the desire of donors to promote sustainable development and the improvement of the living conditions of the Congolese populations.
A strong partnership between the DRC and multilateral donors:
The technical meeting on the operational challenges of implementing externally funded projects and programs, chaired by the Deputy Minister of Finance, demonstrates the close collaboration between the DRC and its international partners. The Projects and Programs Monitoring Unit of the Ministry of Finance plays a key role in the allocation and optimal management of financial resources intended for the economic and social development of the country.
Conclusion :
The DRC benefits from unprecedented financial support from multilateral donors, which demonstrates the confidence placed in its economic and social development.. The mobilization of nearly $9 billion over a period of three years reflects the commitment of international partners to support the DRC in its journey towards a better future. This targeted funding will make it possible to strengthen priority sectors and contribute to improving the living conditions of the Congolese populations.