#GovernanceReformsinDRC

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AfDB Unveils Growth Strategy for DRC 2023-2028

AfDB Launches 2023-2028 Strategy for DRC's Transformation

The African Development Bank (AfDB) has unveiled its ambitious 2023-2028 Country Strategy Paper (CSP) for the Democratic Republic of Congo (DRC), focusing on industrialization and employment to drive inclusive growth and reduce fragility.   Strategic Priorities: Infrastructure and Human Capital The new CSP sets two primary objectives. Firstly, it aims to develop sustainable infrastructure supporting agricultural and industrial value chains. Secondly, the strategy focuses on improving human capital quality and the business climate, fostering social inclusion and private sector growth. Serge N'Guessan, AfDB Director General for Central Africa, highlighted the CSP's intensive consultation process, emphasizing its commitment to structural transformation and fragility reduction in the DRC.   Boosting Agricultural and Industrial Value Chains Under its first priority, the AfDB will champion the development of vital agricultural sectors, including cassava, maize, soya, and rice. The strategy encompasses transport projects to connect production regions with markets and initiatives in the energy sector, encouraging public-private partnerships for essential infrastructure. These efforts aim to address food insecurity and reduce food imports by enhancing the DRC's agricultural efficiency and output.   Enhancing Governance and Youth Employability To realize its second priority, the Bank will focus on governance reforms and skill development for youth employability and entrepreneurship. This includes facilitating young people's qualifications and employability, improving access to financing, and enhancing the business climate. The governance aspect will concentrate on capacity building for value chain integration and local governance.  

AfDB’s Ongoing Commitment to the DRC

As of September 2023, the AfDB's active portfolio in the DRC includes 27 operations (21 national and 6 regional), with a total commitment of USD 1.45 billion. This substantial investment underscores the Bank's ongoing commitment to the country's development and stability.   Sources: THX News & African Development Bank Group. Read the full article