Democratic Republic of Congo


AfDB, DRC Sign US$ 58 Million Grant Agreement for Inga Power Station Rehabilitation

The Bank Group signed on Thursday in Tunis a grant agreement of 35.70 million Units of Account (UA*), equivalent to US$ 58 million, to finance the Inga hydro-power stations, the Kinshasa distribution network and a rehabilitation and upgrading project (RDPMDP). The AfDB Vice President for Infrastructure, Private Sector and Regional Integration, Gantsho Mandla, signed the agreement for the Bank Group while the Chargé d’Affaires of the DRC in Tunisia, Genevieve Lukusa Kayembe Nkaya, signed for her country. Mr. Gantsho said the project, co-financed with other donors, particularly the World...

AfDB Supports Microfinance Institutions in DRC-Approval of US$1.1 Million Equity Investment in Advans Bank Congo

Tunis, 30 January 2008 – Micro-enterprises and SMEs in the Democratic Republic of Congo (DRC) will benefit from an equity investment of US$ 1.1 million in Advans Bank of Congo (ABC) and a technical assistance grant of Euros 650,000, approved by the Board of Directors of the African Development Bank (AfDB). Advans Bank Congo (ABC) will be established as a Greenfield microfinance bank to provide financial services to the low-income population of the DRC.  The project objective is to provide micro, small and medium sized enterprises to clients in lower income bracket, with a broad...

DRC - Final Communique of the Consultative Group Meeting (Paris-France - 29-30 November 2007)

Paris, 30 November 2007 – During the Consultative Group (CG) meeting in Paris, the Government of the Democratic Republic of Congo (DRC) and international partners made commitments to ensure continued progress in DRC. The Government stressed that its top priorities are achievement of the HIPC Completion Point, achievement of double - digit economic growth, reaching the Millennium Development Goals by 2015, and making more rapid progress on human development indicators. The Government underlined its commitment to implement necessary reforms in all aspects of the economy and public...

AfDB approves a total of USD 406.29 Million in loans and grants to 4 African countries

Tunis, December 18, 2007 - The African Development Bank Group (AfDB) on Monday in Tunis approved a total loan and grant package of USD 406.29 million for development projects and programs in four of the Bank’s member countries. The resources will be used for a range of initiatives that include energy, increasing agricultural productivity, strengthening institutional capacity and road-building. The Board of the African Development Bank approved a non-concessionary loan of USD 223.48 million to Morocco to finance the Ain-Beni-Mathar power station project. In March 2005, the AfDB...

CRMU and OAGL organize workshop in DRC

Kinshasa, December 13, 2007 - In the framework of its outreach activities, CRMU in partnership with OAGL (Office of the Auditor General) and the Bank’s field office in DRC (CDFO) organized a national workshop under the title, International Accountability and Anti-Corruption and Fraud Mechanisms: The Case of the African Development Bank. The objective of the workshop, held on December 13-14, 2007, was mainly to raise awareness of civil society on the scope and expected outcomes of the Bank’s independent review mechanism managed by CRMU and the former anti-corruption and fraud...

The African Development Bank boost Copper Cobalt mining in DRC USD 100 million to the Tenke Fungurume Project

Tunis, 2 October 2007- The Board of Directors of the African Development Bank (ADB) approved a US $ 100 million senior loan under its private sector window to the Tenke Fungurume Copper and Cobalt Project in the DRC. The Tenke Fungurume project (the Project) involves mining the Tenke oxide ore deposit and its treatment in a conventional hydrometallurgical plant to recover copper and cobalt. Project output will be 115,000 tons per annum (tpa) of LME Grade A copper cathode and 10,000 tpa of cobalt metal (mix of refined form and hydroxide metal). The project includes the development of a mine...

Inauguration of the regional Office for the DRC and Republic of Congo, CDFO

Kinshasa, 31 July 2007 - Mr. Donald Kaberuka, President of the African Development Bank Group, recently paid an official visit to the Democratic Republic of Congo from 29 to 31 July, during which he was received in audience by His Excellency Joseph Kabila, President of the Republic. Mr. Kaberuka also met with the President of the National Assembly, the Prime Minister, and the Vice-President of the Senate. The President of the Bank Group and his delegation held several working sessions with the Minister of State, Minister of Agriculture, the Minister of the Economy, Finance and the...

Speech at the Inauguration of the Bank’s New Field Office for the Democratic Republic of Congo and Republic of Congo by the AfDB President Donald Kaberuka

Event: Inauguration of the Regional Office for the Democratic Republic of Congo and Republic of Congo It is a great pleasure for me to welcome you to the premises of the Regional Office of the African Development Bank in Kinshasa, which covers the Democratic Republic of Congo and the Republic of Congo. Your presence is testimony of your interest in the Bank and its activities, and we thank you very much for the gesture. Furthermore, I wish to seize this opportunity to thank the authorities of this country for accepting to host our office and for all the measures taken to facilitate its...

DR Congo: US$ 22.7 Million ADF Grant for Post-Conflict Reintegration Project

Tunis, 24 July 2007 – The African Development Fund (ADF), the concessional window of the African Development Bank (AfDB) Group, will support a Post-conflict Socio-economic Reintegration Support project (PARSEC) in the Democratic Republic of Congo with a grant of 15 million Units of Account (UA*), equivalent to US$ 22.7 million approved by the Fund’s Board of Directors in Tunis on Tuesday. The objective of the project is to support the redeployment of ex-combatants through vocational training and self-employment in agricultural activities in the provinces of Katanga, Maniema, North...

Multinational - Tenke Fungurume Copper & Cobalt Project - ESIA Summary

This executive summary provides an overview of the environmental and social impact assessment (ESIA) for the Tenke Fungurume Mining S.A.R.L. (TFM) copper-cobalt mining project in the Democratic Republic of the Congo (DRC). It summarizes the five ESIA volumes, which include the Introduction and Project Description (Volume A), Baseline (Volume B), Impacts and Cumulative Effects Assessments (Volume C), Environmental and Social Management System (Volume D) and Appendices (Volume E). A compendium to this document summarizes the Resettlement Action Plan.

RDC - Projet d’exploitation de cuivre et de cobalt de Tenke-Fungurume - Résumé EIES

Le présent résumé analytique donne un aperçu de l’étude de l’impact environnemental et social (EIES) du Projet d’exploitation de cuivre et de cobalt de Tenke-Fungurume Mining SARL (TFM) en République Démocratique du Congo (RDC). Il résume les cinq volumes de l’EIES, à savoir l’Introduction et la description du projet (Volume A), l’Étude de référence (Volume B), les Études d’impacts et d’effets cumulatifs (Volume C), le Système de gestion environnementale et sociale (Volume D) et les Appendices (Volume E). Un recueil annexé au présent document résume le Plan d’action de réinstallation.

ADF Provides Grant to Increase Agricultural Production in DRC

Tunis, 12 December, 2005 – The African Development Fund (ADF), the concessionary arm of the African Development Bank Group, will support efforts by the government of the Democratic Republic of Congo (DRC) to increase agricultural production in two of the country’s provinces.  The ADF Board of Directors today approved a 35 million Units of account* grant (US$ 50 million or CFA 27,8 billion) to finance the Agricultural and Rural Sector Rehabilitation in Kasai-Oriental and Kasai-Occidental Provinces. The Project will provide resources for a capacity building program to train staff...

DRC Gets US$ 74.69 Million Grant for Roads Rehabilitation

Tunis, 29 December 2005 – The Government of the Democratic Republic of Congo has signed an agreement with the African Development Bank Group for a grant of 52.45 million Units of Account (UA*), about US$ 74.69 million to finance the Nsele-Lufimi and Kwango-Kenge Roads Rehabilitation Project. The Chargé d’Affaires of the embassy of the DRC in Tunis, Mrs. Lukusa Kayembe N’Kaya Genevieve and the Bank Group’s Acting Vice President for West and Central Operations, Mr. Jaouad Mohammed Gharbi, signed the protocol agreement in Tunis on Thursday. The project will help reduce the internal...

RDC - HIPC Approval Document-Decision Point under the Enhanced HIPC Framework

In July 2003, the Democratic Republic of the Congo (DRC) reached its decision point and became the 23rd regional member country (RMC) to qualify for debt relief under the enhanced HIPC framework 1 . The Boards of Directors of the IMF and the World Bank approved US$ 6.3 billion worth of debt relief in end-2002 NPV terms for the country.

RDC-Extension of Interim Period and Additional Interim Debt Relief under the Enhanced HIPC Initiative

DRC reached its decision point under the HIPC Initiative in July 2003.1 As a result, the Bank Group granted DRC debt relief estimated at US$ 905.10 million, in net present value (NPV) terms, to enable it reach its completion point by December 2007.2 DRC experienced some slippages in fulfilling all the conditions for reaching its completion in December 2007 due to some socio-political and economic problems but continues to make significant progress in its reforms agenda to reach completion point. The level of debt relief granted by the Bank Group to DRC reached 27.3% of the commitment at end...