DR Congo president warns $8.3B funding backlog undermines credibility
Administrative delays and weak project management have been blamed for causing delays in disbursing the funding.
DR Congo’s President Félix Tshisekedi has warned that a $8.3 billion funding backlog stemming from administrative delays and poor management is undermining the country’s credibility as it seeks to attract more foreign investments. Only 24% of an active portfolio valued at over $10.7 billion has been paid out, according to cabinet meeting minutes.
The Congolese financial watchdog attributes the disbursement issues to administrative hurdles, weak project management, and a lack of counterpart funding from the government itself. Congolese lawmaker Flory Mapamboli stated that while some financing conditions have been met, the money remains undistributed, highlighting a broader issue of absorption capacity.
This situation is particularly concerning as DR Congo's strategic location in critical-mineral supply chains attracts significant infrastructure investments from foreign governments and lenders. In response, Tshisekedi has directed the Prime Minister to prioritize improving disbursement rates for externally financed projects, aiming to ensure that every financing commitment translates into tangible benefits for the population.
Written by urgent.news from Semafor's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
