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Over 900 mln USD from World Bank for 26 projects in DR Congo

Xinhua, February 12, 2016 Adjust font size:

The World Bank had disbursed a total of 926 million U.S. dollars by mid-May 2015 to support 26 projects whose execution is underway in the Democratic Republic of Congo (DR Congo), a document from the Bank revealed on Thursday.

According to the document, the money was released under the Bank's program to support pillars of the Congolese National Strategy for Growth and Poverty Reduction for the period 2011-2015.

The Bank's total spending in DR Congo has so far reached 3.3 billion dollars, out of which 1.14 billion went to two regional projects. Most of the funds went to infrastructure projects.

Other projects included governance in management of public finances in six provinces and the mining sector, reforms in public enterprises and improvement of the business environment.

The Bank equally funded rehabilitation of infrastructure in the health and education sectors as well as management of forests, national parks and agriculture.

Between 2013 and 2016, the World Bank planned to increase state efficacy both at the central and devolved level, improve good governance and reinforce economic competitiveness. Endit