Talks held by the African Growth Financial institution Group (www.AfDB.org) within the Republic of Congo from 24 – 28 February 2025 marked a big step ahead in strengthening the strategic partnership between the Financial institution and the Central African nation.
Led by Solomane Koné, Performing Director Basic for Central Africa, the discussions bolstered cooperation to speed up nationwide improvement priorities.
In addition they coincided with the signing of two grant agreements (apo-opa.co/41HG8HS) totalling $1.5 million to handle Congo’s vitality challenges:
- A $585,000 grant from the Center Revenue Nation Technical Help Fund to fund feasibility research for hydroelectric infrastructure on the Congo River.
- A $995,000 grant from the Korea-Africa Financial Cooperation Belief Fund (KOAFEC) to reinforce {the electrical} transmission line between Pointe-Noire and Brazzaville.
“The initiatives funded by these agreements will assist us to open up energy swimming pools with neighbouring nations, such because the Democratic Republic of Congo. The African Growth Financial institution will once more play a necessary function, since it’s a stakeholder in quite a few initiatives, together with the brand new Mission 300 (apo-opa.co/41qMj1F), which our nation welcomes,” commented the Congolese Minister of the Economic system, Planning and Regional Integration, Ludovic Ngatsé, who can be the Financial institution Group’s governor for his nation.
“This monetary assist illustrates the Financial institution’s willingness to assist Congo in modernizing its vitality infrastructure, which is crucial for diversifying its financial system,” added Koné.
Within the digital sector, a go to to the Information Heart (https://apo-opa.co/3XrGmjT), at the moment being inbuilt Congo as a part of the Central African Spine fibre optic mission, highlighted the nation’s technological advances. This strategic centre will assist enhance nationwide and regional connectivity, whereas supporting the emergence of an inclusive digital financial system and sovereignty.
Strategic discussions for stronger cooperation
The Financial institution Group’s mission was additionally punctuated by high-level conferences, together with with the Prime Minister, Anatole Collinet Makosso, and the Minister of the Economic system, Planning and Regional Integration, Ludovic Ngatsé, and different members of the Congolese authorities. The talks had been a chance to reiterate the Financial institution’s dedication to supporting the structural reforms and implementation of Congo’s Nationwide Growth Plan (NDP) 2022-2026.
The Financial institution Group’s mission inspired the federal government to pursue the passable implementation of main reforms, notably when it comes to debt administration, to permit the Financial institution to offer funding, from 2025 onwards, for core initiatives which have already been deliberate or are in preparation, notably within the vitality sector.
“You might be reassured by the truth that we’re going to maintain our commitments and can proceed to depend on the Financial institution’s priceless assist,” said the Congolese Prime Minister.
The Financial institution’s representatives had been welcomed by the Ministers of Agriculture, Livestock Farming and Fishing; Technical and Vocational Training; Finance, the Price range and Public Holdings; and Power and Water, amongst others. The talks with ministers helped consolidate the strategic dialogue on key questions, evaluation the progress of present initiatives – a few of that are approaching completion, with tangible outcomes – monitor commitments and focus on the prospects of the partnership between the African Growth Financial institution Group and the Republic of Congo.
A gathering with United Nations representatives additionally offered a chance to discover synergies with the Financial institution to maximise the impression of interventions, notably in vitality. The working assembly with the Central Africa Energy Pool highlighted the significance of regional integration on this sector to reply to the nation’s vitality safety and entry challenges.
Outlook for constructive cooperation
The Financial institution Group’s mission to Congo additionally opened prospects for mobilizing new funding to assist strategic sectors, particularly vitality, digital infrastructure and roads.
The Financial institution Group’s mission to Congo explored new funding alternatives for key sectors, together with vitality, digital infrastructure, and roads.
The Financial institution plans to offer technical help to assist Congo reassess its GDP, incorporating pure capital—a key step in unlocking local weather funding.
Congo has additionally expressed curiosity in becoming a member of the second cohort of Power Compacts underneath Mission 300 (https://apo-opa.co/41qs981), a joint initiative by the African Growth Financial institution and World Financial institution.
Lastly, discussions lined Congo’s internet hosting of the Financial institution’s 2026 Annual Conferences, with the Prime Minister reaffirming the nation’s readiness to make sure a profitable occasion.
The Financial institution is planning to offer technical help to assist Congo in “reassessing” its gross home product to take account of its pure capital, creating a real alternative to mobilize local weather funding.
Furthermore, Congo has expressed its curiosity in being a part of the second cohort of nations dedicated to Power Compacts within the context of Mission 300 (https://apo-opa.co/3Xvrd15), an unprecedented initiative by the African Growth Financial institution and World Financial institution. Lastly, the mission mentioned the group by Congo of the Financial institution Group’s 2026 Annual Conferences. The Congolese Prime Minister provided reassurance as to his nation’s preparedness and promised a profitable consequence.
“The connection between the African Growth Financial institution and the Republic of the Congo is superb. The Financial institution has all the time been at our facet, offering numerous types of assist, each operationally and when it comes to strategic recommendation. It exerts its affect to again initiatives to assist Congo, and it has my honest thanks for that,” concluded Anatole Collinet Makosso.
Cooperation between the African Growth Financial institution and the Republic of the Congo relies on the Nation Technique Paper (CSP) 2023-2028 (https://apo-opa.co/41EiyMo), which focuses on two precedence areas: the event of sustainable infrastructure to strengthen worth chains with excessive development potential, and bettering human capital and financial governance to assist social inclusion.
Distributed by APO Group on behalf of African Growth Financial institution Group (AfDB).
