Kinshasa, DR Congo – The International Monetary Fund (IMF) has approved a nearly $3 billion loan package for the Democratic Republic of Congo (DRC). The two programs, an Extended Credit Facility (ECF) and a Resilience and Sustainability Facility (RSF), are designed to bolster the country’s economy and support its green transition.
The ECF, valued at approximately $1.8 billion, aims to stimulate economic growth, diversify the economy, create jobs, improve living standards, and enhance governance and transparency. The RSF, worth around $1.1 billion, will help the DRC transition to a low-carbon economy and build resilience to climate shocks.
The IMF mission chief to the DRC, Calixte Ahokpossi, announced that both programs will span three years, subject to final approval by the IMF’s executive board in mid-January.
