Democratic Republic of Congo: African Development Bank Unveils 2023-2028 Country Strategy Paper, Prioritizing Industrialization and Employment

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The Board of Directors of the African Development Bank Group (AfDB Group) convened on January 17, 2024, in Abidjan and endorsed the 2023-2028 Country Strategy Paper (CSP) for the Democratic Republic of Congo (DRC). The CSP is designed to mitigate fragility by fostering inclusive and sustainable structural transformation driven by industrialization and job creation for both women and men.

The newly approved CSP outlines two primary objectives. Firstly, it emphasizes the establishment of sustainable infrastructure to bolster agricultural and industrial value chains. Secondly, it aims to enhance the quality of human capital and the business environment to foster social inclusion and stimulate private sector growth in the DRC.

Serge N’Guessan, AfDB Director General for Central Africa, emphasized the consultative nature of the CSP’s formulation process, noting its alignment with past achievements and its focus on further structural transformation to address fragility.

In pursuit of the first objective, the AfDB plans to facilitate the development of value chains in pivotal sectors such as cassava, maize, soya, and rice cultivation. It also intends to support transportation projects that connect production regions with markets through infrastructure enhancements. Furthermore, the Bank will encourage public-private partnerships in the energy sector, including providing partial risk guarantees for the construction and operation of a 118-megawatt power plant. These initiatives aim to bolster food security and reduce food imports by enhancing the performance of agricultural value chains in the DRC.

Addressing the second objective, the Bank will aid in consolidating governance reforms and fostering skills development for youth employment and entrepreneurship. Key targets include enhancing the qualifications and employability of young individuals, facilitating access to financing, and enhancing the business climate. Governance-focused efforts will involve capacity building for professional integration into value chains and bolstering local governance in decentralized territorial entities.

As of September 30, 2023, the Bank’s active portfolio in the DRC comprised 27 operations, including 21 national and 6 regional initiatives, with a cumulative commitment of USD 1.45 billion.