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Home >> Business
UPDATED: 21:52, March 09, 2007
World Bank pledges 1.5 bln dollars to DR. Congo
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The World Bank (WB) will finance 1.5 billion U.S. dollars in the next three years to the Democratic Republic of Congo (DRC) in support of the government's program after the electoral process.

After a meeting with the DRC President Joseph Kabila, WB President Paul Wolfowitz who arrived in the country's capital of Kinshasa on Thursday said he is satisfied with efforts being undertaken by Kabila to bring about stability in the country and to improve the living conditions of the population.

He reaffirmed the WB's determination to accompany the DRC in achieving the government's program, especially in the fields of infrastructures, electricity, water and good governance.

On his part, the DRC Central Bank (BCC) Governor Jean-Claude Masangu said the WB is going to assist his country in mobilizing funds from other donor institutions in order to raise a total of 14 billion dollars needed to implement the government's program.

The WB is currently financing the rehabilitation of the DRC's infrastructures, as well as the disarmament, demobilization and reintegration process (DDRP) of ex-combatants involved in the armed conflicts between 1998 and 2003.

Source: Xinhua

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