NAIROBI, 15 September (IRIN) - The
World Bank announced on Friday US $214 million in "emergency economic
and social reunification support" for the Democratic Republic of the
Congo (DRC).
Approved on Thursday by the bank's board
of directors, the facility comprises a grant of $164 million and a $50-million
loan. The loan is repayable in 40 years but the Congo has until 2013 before
it begins the process.
"This project will help the government overcome the critical, short-term obstacles to economic and social reunification and extend the period for carrying out key economic reforms throughout the country," the bank stated.
It added: "The project will complement actions currently underway to address urgent needs, alleviate the suffering of Congolese people, and generate quick 'peace dividends' which could contribute to the stabilisation of the country, by financing rehabilitation activities in those parts of the country where no major economic assistance program is put into practice yet."
It said the project's activities were aimed at laying the ground for an extension of the Emergency Multi-Sector Rehabilitation and Reconstruction Programme to all parts of the country.
[For more on World Bank activities in the DRC, go to http://web.worldbank.org/external/projects/main?pagePK=217672&theSitePK=40941&menuPK"3661&category=regcountries=AEioncode=1&countrycode=ZR]
[ENDS]
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