The Democratic Republic Of Congo Receives US$120 Million
To Improve The Investment Climate
Media Contact: Eric Chinje
Tel: (202) 458-8418
Email: echinje@worldbank.org


Washington, July 29, 2003 – The World Bank’s Board of Directors today approved $120 million to the Government of the Democratic
Republic of Congo (DRC) to facilitate growth in the private sector and rebuild its economy following a decade of conflict and years of
mismanagement.
The Private Sector Development and Competitiveness project’s objective is to support private sector development by increasing the
competitiveness of selected firms in the mining, transport, energy, telecom and financial sectors, supporting changes in the tax, legal and judiciary
systems, and facilitating divestiture of public enterprises.
“These efforts will help improve transparency and good governance in these sectors of the economy,” said Ivan Rossignol, World Bank
Task Manager for the project.
The first component of the project will improve the attractiveness of the DRC’s private sector to investors by strengthening the judiciary system
and improving the fiscal framework; facilitating financial intermediation; building capacity in the Ministry of Mines; and creating a policy dialogue
forum.
The second component will reform public enterprises by creating a regulatory framework and facilitating divestiture of the enterprises. It will also
help alleviate the immediate social costs of the reform, due to the fact that the reforms are aimed at sustainable medium to long term improvements
and job creation.
The third component will focus on the employment of laid-off workers in the Katanga region by supporting the development of small and medium
enterprises through matching grants, training for un-employed workers and other vulnerable groups, and supporting the development of the supply
chain to the mining industry.
For more information on the World Bank’s work in the Democratic Republic of Congo visit: http://www.worldbank.org/cd
For the project documents visit: http://www4.worldbank.org/sprojects/Project.asp?pid=P071144