The Congolese government, led by Finance Minister Doudou Fwamba Likunde Li-Botayi, recently inaugurated the second Extended Credit Facility program in Kinshasa, the capital of the Democratic Republic of Congo. The initiative, discussed at a meeting at the Ministry of Finance, is a collaborative effort between the government, the International Monetary Fund, and the World Bank.
Redefining the DRC’s economic narrative with a pragmatic, results-oriented approach is at the heart of the new program. With a focus on strategic social investments, the government aims to mobilize up to US$2.5 billion for critical projects. These funds will be allocated to initiatives such as expanding universal health coverage, free secondary education, building infrastructure to facilitate the movement of people and goods, and developing sustainable agriculture on the country’s arable lands.
The Minister of Finance stressed the importance of ensuring inclusive development and improving the quality of life of Congolese citizens through these targeted investments. In parallel, the government has begun discussions to conclude two new programs with the IMF: the Extended Credit Facility (ECF) and the Extended Resilience and Sustainability Facility (RST). These initiatives aim to support efforts to combat climate change in the DRC, demonstrating the country’s commitment to sustainable and balanced development.
The negotiation mission led by Calixte Ahokposi, IMF mission chief, demonstrates the shared desire to strengthen international cooperation to support the Congolese economy. By working together with regional and international partners, the government seeks to put in place sound economic and financial policies to promote economic growth and the well-being of the population.
In conclusion, the launch of the second Extended Credit Facility program marks a new step in the DRC’s economic development strategy. With a focus on social and sustainable investments, the government aspires to build a better future for all Congolese, ensuring that financial resources are used efficiently and transparently for the benefit of the nation.