IMF Approves $2.87 Billion Agreement with DRC for Economic Growth and Climate Resilience
On January 15, 2025, the International Monetary Fund (IMF) Executive Board approved a new cooperation agreement with the Democratic Republic of Congo (DRC), encompassing two major programs worth $2.87 billion. The package includes a $1.77 billion Extended Credit Facility (ECF) and a $1.1 billion Climate Resilience Facility (CRF).
Prime Minister Judith Suminwa Tuluka announced the agreement following an extraordinary Council of Ministers meeting chaired by President Félix-Antoine Tshisekedi.
Minister of Communication and Media, Patrick Muyaya, confirmed that disbursements will occur in tranches, contingent on progress in implementing agreed economic reforms. The first disbursement, $247 million for balance of payments support, is expected immediately.
Focus Areas and Impact
The two programs will work in tandem to address economic challenges and environmental priorities.
- Economic Development: Over $800 million will be allocated to public investments, focusing on projects that stimulate economic growth and improve living conditions for millions of Congolese.
- Climate Resilience: The Climate Resilience Facility will support policies aimed at climate adaptation and mitigation while enhancing governance in the forestry sector.
The agreement marks a significant milestone for the DRC, combining economic reform and climate action with a vision for sustainable development.
By directing these funds toward transformative projects, the nation aims to achieve long-term growth and resilience in the face of global and domestic challenges.
