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US $40 million Word Bank loan for infrastructure

Country Map - Congo IRIN
The number of IDPs in the interior of Pool region, which surrounds Brazzaville, remains unknown
    NAIROBI

    The World Bank will this August disburse US $40 million to the Republic of Congo for the rehabilitation of infrastructure and the raising of living standards, in an effort to re-launch the oil-rich nation onto the path of economic development after years of internal strife.

    The Bank's resident representative, Alassane Diawara, told IRIN on Wednesday that the project comprised several components, including the repair of roads, bridges and schools; rehabilitation of the railway; job creation; and the fight against HIV/AIDS. Others are the transport of agricultural products and the heavy reliance on local manpower.

    This loan is in addition the $5 million made available to reintegrate combatants of the civil war back into civilian life, and an emergency loan of $37.5 million for 2001-2002. Diawara said the ROC had regained its credit rating with the Bank and IMF after having "conformed strictly" with conditions laid down by the Bank to reduce the country's debt to international financial institutions.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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