The International Monetary Fund (IMF) has announced two new loan programs for the Democratic Republic of Congo (DRC) totaling close to $3 billion. The announcement follows a two-week IMF mission to the DRC, during which discussions centered around strengthening the country’s economic stability and supporting its green transition.
The financial package includes an Extended Credit Facility (ECF) of approximately $1.8 billion and a Resilience and Sustainability Facility (RSF) worth around $1.1 billion. According to IMF’s DRC mission chief, Calixte Ahokpossi, the ECF is intended to promote inclusive growth, drive economic diversification, generate jobs, improve living standards, and enhance governance and transparency within the DRC. The ECF-backed program will also focus on poverty alleviation, providing much-needed support for one of Africa’s most resource-rich yet economically challenged nations.
The RSF, on the other hand, aims to help the DRC align with its strategic vision of becoming a “solution country” in the global shift toward a low-carbon economy. This facility will support the country’s efforts to strengthen resilience against climate shocks and advance sustainable environmental practices.
The agreements are set to span three years, contingent upon approval from the IMF’s executive board, which is scheduled to review the programs in mid-January. If approved, these programs could provide significant economic and environmental benefits for the DRC, enhancing its role in the global green economy while fostering stronger domestic growth and improved livelihoods for its citizens.
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