IMF board approves $2.7bn loan for DR Congo

The International Monetary Fund said on Wednesday its executive board has approved two loans worth together more than $2.7bn (R52.13bn) for the Democratic Republic of Congo.

January 16, 2025 at 10:40 am

The IMF will visit Angola this week as the country edges closer to a new loan deal. File photo. (REUTERS/YURI GRIPAS)

The International Monetary Fund (IMF) said on Wednesday its executive board has approved two loans worth together more than $2.7bn (R52.13bn) for the Democratic Republic of Congo (DRC).

The approval includes about $1.7bn (R32.82bn) under an extended credit facility and about $1bn (R19.31bn) under a resilience and sustainability facility.

Congolese leadership plan to use the funding "to boost growth and create fiscal space for priority investment and social spendings", Kenji Okamura, deputy managing director of the IMF, said in a statement.

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