Bank Group intervention in the Congo Basin
Presentation of the Basin
The Congo Basin rainforest is the world’s second largest expanse of forest accounting for 26% of the world’s tropical rainforest. Dense , deep, humid and seemingly impenetrable the Congo Basin forests stretch from the coasts of the Gulf of Guinea to the West as far as to the Albertin mountain ranges to the East and over seven latitudes and longitudes along the equator. With an estimated total area 200 million hectares, the Congo Basin rainforests cut across 10 countries with 63 million people who benefit from the forests’ 10,000 species of plants 1000 species of birds and 400 species of mammals. The countries Burundi , Cameroon, Central Africa Republic, Chad , Congo, DR Congo , Equatorial Guinea Gabon, Sao Tome and Principe , and Rwanda.
Bank Group intervention in the Congo Basin countries
The Bank Group has financed a total of 81 operation in the Congo Basin amounting to U.A 1,7 billion (as at the end of December 2007) spread over 10 different sectors of which the bulk was in agriculture , multi-sector and social. The Bank Group adopted a multi-sectoral approach to its intervention in the Region. Bank Group operations in water and sewerage sector has increased substantially since the establishment of African Water Facility (AWF), while operations in Environmental protection has continued to lag behind. The launching of the Congo Basin Rainforest Fund and the increased awareness of the international donor community of the ecological importance of the zone to the world climate, are expected to stimulate investments in the sector in the coming years.