The World Bank has approved a 200-million US dollar credit for the government of the Democratic Republic of the Congo (DRC), under its International Development Association (IDA) programme.
The money would go to supporting the DR Congos economic and recovery programme, the bank said.
– The post-reunification economic recovery credit will facilitate the implementation of urgent reforms in critical areas including initiating a civil service reform, the bank reported. – It will help the government deal with the countrys debt situation by making resources available to support the governments settlement of domestic arrears and payment to its utility suppliers.
The bank said that the money would also be used for structural reforms aimed at fostering efficiency and enhancing productive capacities. The credit would provide the government with the resources to facilitate extensive transitional and reintegration adjustments across the country.
A transitional government of national unity was installed in June 2003, following five years of civil strife.
– The government of the DR Congo has successfully sustained a set of measures aimed at enhancing sound macroeconomic policies, stabilising the economy, and preparing for growth, the bank quoted Eric Nelson, World Bank task team leader for the Post-Reunification Economic Recovery project, as saying.
– The project will ensure that these policies, across a reunified country with substantially greater demands on its resources, are maintained, Nelson said.
Actions supported by the credit programme would foster rehabilitation and reconstruction in the reunified economy through continued macroeconomic stability, and help improve governance and growth in private capital inflows, the bank reported.
It said the credit was on standard IDA terms, with a commitment fee of 0,5 percent, a service charge of 0,75 percent and a maturity of 40 years, including a 10-year period of grace.
Kilde: FN-bureauet IRINnews
