Last Friday, $80 million in funding was approved for the Republic of Congo. The World Bank provided this funding in the form of support for development policies.

The World Bank's funding aims to support reform efforts undertaken by the authorities to strengthen revenue mobilization and public financial management, and create conditions more conducive to inclusive and sustainable growth. According to Cheick Fantamady Kanté, World Bank Operations Director for the Republic of Congo, “the reforms supported by this financing in support of development policies are essential to improve the country's fiscal situation and governance while diversifying the economy

This operation focuses on two priority areas. This involves strengthening fiscal sustainability and governance through the modernization of tax and customs administration, tighter regulation of the oil sector, increased control of public finances, and improved efficiency in the public procurement system. Then, supporting economic diversification and inclusion by improving the business environment, social protection for the most vulnerable population, as well as access to electricity and essential services such as health and education.