The Operations Director of the World Bank, Jean Christophe Carret, who accompanied the Vice President of this financial institution for the Africa region, Hafez Ghanem to the Congolese Finance Minister, José SeleYalaghuli, said that $ 5 billion is not budget support, but rather an envelope within the reach of the Democratic Republic of the Congo. "The cooperation between the World Bank and the DRC has come at an interesting moment in its history. We will finance the payment of teachers’ salaries, their transport and school functioning costs, "said Jean Christophe Carret while waiting the decision of the Board of the World Bank on this issue, as of February 2020.
Apart from free basic education, this envelope of the World Bank will be used to finance the beginning of universal health coverage decreed by the President of the Republic, Felix Tshisekedi. It is therefore a form of formal resumption of cooperation between this institution of BrettonWoods and the DRC.
Since resuming co-operation with Kinshasa, the World Bank has supported the Congolese government through concessionary credits and non-repayable grants. Through its IDA (International Development Association) institution, the World Bank has been able to disburse US $ 715.52 million in loans to the DRC from a total portfolio of US 2.624 billion, representing a disbursement rate of 27.26 percent. As of July 31, 2019- These credits, the DRC paid $ 419,887,354, $ 33 in interest for these credits.
In an interview with Top Congo FM and Zoom-eco, Jean Christophe Carret says that the World Bank is identifying the priorities of the Congolese government to intervene. "The idea is to know, in this partnership, what are the priorities of President Tshisekedi and his government to see how the World Bank can help them", he said.
(CKS/Yes)