The International Monetary Fund said on Friday it approved about $348.5 million (R6 billion) in funding for the Democratic Republic of Congo after completing reviews of programmes under its Extended Credit Facility and Resilience and Sustainability Facility.
The third review of the ECF-supported programme unlocked about $258.2 million, while the second review under the RSF allowed for a disbursement of about $90.3 million, the IMF said.
Finance Minister Doudou Roussel Fwamba Likunde Li-Botayi said the government would allocate the funds in two parts.
“Approximately $193.9m will go towards budget support to help finance climate change adaptation measures, infrastructure and social development programmes,” he said in an emailed statement. “The remaining amount will help consolidate our external reserves and support the balance of payments.”
He added that the government remained “fully committed” to its partnership with the IMF and to the continued implementation of policies aimed at promoting stability, resilience and long-term development.
- The IMF approved approximately $348.5 million in funding for the Democratic Republic of Congo after reviewing programs under its Extended Credit Facility (ECF) and Resilience and Sustainability Facility (RSF).
- The third ECF program review unlocked about $258.2 million, while the second RSF review enabled a disbursement of around $90.3 million.
- Finance Minister Doudou Roussel Fwamba Li-Botayi stated the funds will be allocated in two parts: $193.9 million for budget support targeting climate change adaptation, infrastructure, and social development.
- The remaining funds will be used to strengthen the country’s external reserves and support the balance of payments.
- The government reaffirms its commitment to the IMF partnership and the ongoing implementation of policies focused on stability, resilience, and long-term development.
