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DRC, France Sign €500M Investment Deal

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Le Président de la République a présidé, ce mardi, la cérémonie de signature d'un mémorandum de 500 millions d'euros entre la République démocratique du Congo et l'Agence française de développement (AFD). taarifa

France’s development Agency (AFD) and the Democratic Republic of the Congo have signed a €500million investment deal.

According to details on Tuesday, President Félix Tshisekedi and Rémy Rioux the AFD chief executive  inked their signatures on the memorandum of understanding.

Mr. Rioux, his delegation came to see “the solidity” of the economic policy of the DRC as well as the macroeconomic and financial framework.

The French Development Agency (AFD) is a public financial institution that implements the policy defined by the French government, acts to combat poverty and promote sustainable development.

Present on four continents through a network of 75 offices, AFD finances and supports projects that improve the living conditions of populations, support economic growth and protect the planet. In 2015, AFD allocated €8.3 billion euros to financing projects in developing countries and in favor of overseas departments, regions and communities.

To demonstrate this commitment by France, two agreements were also signed, one of 10 million euros for “teacher training in the DRC” which, he says, is a contribution to education policy and the other agreement concerns the modernization of the financial authorities of the Ministry of Finance, with a view to increasing the rate of mobilization of domestic resources.

Currently, there are 9 main projects in DR Congo in connection with their objectives: the promotion of bilingual learning in French-speaking sub-Saharan Africa, the support of sustainable forest management, a better distribution of the uses of the waters of the basin.

Congo-Oubangui-Sangha (2nd largest basin in the world), better access to drinking water to fight cholera, a new innovative system for access to drinking water in Kinshasa the capital of the country, a modernization of the vocational training offer in South Kivu, a modernization of the vocational training offer in Bas-Congo, an improvement in mother-child health by supporting two referral hospitals, equitable access to quality education for Congolese children.