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HomeNewsCongo: France to finance 200b CFA francs development projects in Congo

Congo: France to finance 200b CFA francs development projects in Congo

France will finance many development projects in Congo for the 2015-2020 period for a total amount of 200 billion CFA francs (US$414 million), the Congolese Ministry of Finance announced Monday.

The financing is being carried out within the framework of the debt reduction and development contract between the two countries.

The first phase of the projects saw the financing of the construction of a seven-km highway in the capital city of Brazzaville, while the second phase, worth 200 billion CFA francs, is for the city of Pointe-Noire and other localities in the country, according to Anselme Imbert, Financial Adviser for Africa and head of mission of the French Development Agency (AFD).

“During the 2015-2020 period, France will intervene directly in several areas relating to the Congolese’s life, and will particularly emphasise on the employment of young people through the construction of development infrastructures,” Mr. Imbert said.

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