The World Bank is considering increasing its annual financial envelope from USD 600 million to USD 1 billion. Discussions are ongoing with the Congolese Executive. President Felix Antoine Tshisekedi and World Bank President David Malpass held a high-level working session on Monday, September 30, 2019 in Washington DC.

For both sides, it is a question of intensifying the dialogue to strengthen the strategic partnership and give it a new impetus to accelerate the fight against poverty in order to guarantee development in the DRC.

« We are still refining our partnership with the DRC. As an indication, we have so far had a budget of about 600 million USD per year. And we want to increase it to USD 1 billion. We have not yet defined in detail the points of support. But, by listening to the provincial governors, we had an idea, » said Jean-Claude Tchathouang, Executive Director of the World Bank’s Group II, at the end of the one-on-one meeting between David Malpass and Felix Antoine Tshisekedi.

Indeed, these discussions will continue so that all related formalities and procedures are finalised by the end of the current year.

Jean-Claude Tchathouang said: « In the coming months, we will support the Head of State, Félix Tshisekedi, on the issue of free basic education. And integrative projects will come to the World Bank’s Executive Board as well as budget support. I think it’ll all go fast. We are also discussing with our International Monetary Fund (IMF) partners because we also want an acceptable macroeconomic framework. »

This exchange allowed the Head of State to set out his vision for DR Congo, which marks a break with the past on issues of good governance, human rights, economic diversification and human capital in order to address the World Bank’s concerns and reassure it to support its Government.

Stressed the importance of transparency, accountability, & respect for the rule of law to DRC President Felix Tshisekedi.

I assured President Tshisekedi that the @WorldBank Group will continue to assist the DRC in addressing Ebola & other pressing development issues. pic.twitter.com/02yKc79IE1

— David Malpass (@DavidMalpassWBG) September 30, 2019

It is within this framework that the four provincial governors presented integrating projects that will lead to growth in the eight provinces that are in line with the strategy – countries 2020-2024. With a value of more than US$2 billion, these priority actions are mainly based on five pillars.

These are respectively strengthening governance and decentralization, peacebuilding, community resilience and security; development of productive sectors; modernization of basic infrastructure; social development and human capital development; and environmental protection and sustainable management of the living environment.

View of the working session between the two delegations at World Bank headquarters in Washington DC.

« We want to reach out to parties who are affected by the crisis and who have had large pockets of poverty. It was interesting to consult with provincial governors to gather their opinions and see what their concerns and areas the World Bank should address, » said Jean-Claude Tchathouang.

All in all, the visit of President Felix Antoine Tshisekedi had the merit of intensifying the dialogue between partners to consider together what can be done based on the comparative advantages of DR Congo and the World Bank.

Eric TSHIKUMA, Special Envoy