The World Bank has made the decision to suspend funding for humanitarian and development projects in the Democratic Republic of Congo (DR Congo), valued at over $1 billion. The suspension comes in response to the sudden dissolution of the project fund by the Congolese government, catching the lender off guard. The move will have a significant impact on more than 600,000 beneficiaries, including victims of sexual violence, according to a letter sent by the World Bank to Congo's finance minister.
Posts tagged as “World Bank”
The World Bank has approved a $300 million credit for the Mozambique Access to Finance and Economic Opportunities Project or Mais Oportunidades project. The six-year project will span from 2023 to 2029 and will be financed by the International Development Association (IDA).
The World Bank Country team, in collaboration with the Ministry of Finance of the Federal Government of Somalia (FGS), hosted the Country Portfolio Performance Review (CPPR) over two days with fruitful discussions between the Bank and government officials from FGS and Federal Member State (FMS) including the project implementation units (PIUs).