World Bank provides $290m to upgrade infrastructure, agribusiness in DR Congo

As part of a Growth Poles Programme, the World Bank’s Board of Directors has approved a $290 million International Development Association fund for the Democratic Republic of Congo (DRC).

The fund is for the DRC’s plans to upgrade and rehabilitate its rail transport infrastructure and to increase productivity and employment in selected agriculture value chains, a statement issued on June 11, 2013, has said.

The Bank indicated that $180 million of the grant will fund the ongoing Multimodal Transport Project designed to improve transport connectivity to support national economic integration, restore the National Railway Company of DRC.

It adds that $110 million will help fund the Western Growth Poles project designed to support the development of the agribusiness sector and the improvement of the business environment in the DRC.

“With these funds the Government will be able to pursue its plans to upgrade railroad transport, and in so doing, improve the access of poor rural farmers to agricultural markets and promote greater use of the country’s rich mineral resources,” said Jamal Saghir, World Bank Director for Sustainable Development with the Africa Region.

By Dorcas Appiah