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Monday 14 June 2021
HomeNewsCongo: Congo now eligible for IBRD loans

Congo: Congo now eligible for IBRD loans

Congo is now eligible for loans from the International Bank for Reconstruction and Development (IBRD), a member of the World Bank Group that aims to reduce poverty in middle-income countries and creditworthy poorer countries by promoting sustainable development through loans, guarantees, risk management products, and advisory services.

Until now, Congo was only eligible for funds from the World Bank through the International Development Association (IDA), which provides concessional loans to the world’s poorest nations.

The World Bank office in Congo said the country was found by an assessment team from the bank to have income per capital of around US$2,500, which is above the IDA threshold of US$1,205.

The World Bank’s intervention in Congo is in the areas of forestry, electricity, water, business climate improvement, health, education and professional training, among others.

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