SINGAPORE – The World Bank’s private sector arm is ready to invest in an array of sectors in the Democratic Republic of Congo once a new president is elected next month, the head of the development lender said yesterday.
“We’re ready to go once the situation stabilises,” International Finance Corporation chief Lars Thunell told Reuters. The IFC has funds set aside for the resource-rich country, for projects ranging from power generation and financial services to mining and construction, after October’s presidential election run-off following the first multi-party vote in four decades.”We have had a team of up to 30 people looking at various industrial sectors and the government’s identified a number of concrete projects and we’re basically waiting now for a new government,” Thunell said.The central African country’s 1998-2003 war killed nearly four million people – mainly from hunger and disease – slashed output, destroyed infrastructure and drove foreign companies out.The tropical country is endowed with everything from cobalt, gold and diamonds to copper and uranium.”In a post-conflict country you have to have close coordination between government priorities and what we come in and do,” Thunell said in an interview.”We have ideas on how to get electricity generation up, get access to finance out to more people,” he said, adding that there were only 10 000 bank accounts in the nation of 62 million people.Average per capita income is now about US$700 a year.The IFC’S initial focus in banking will be on microfinance as well as on a number of mining projects.”The Belgians are looking at what to do in the harbour in Kinshasa.So we’re trying to see what can we do and what can other people do,” he said.Nampa-ReutersThe IFC has funds set aside for the resource-rich country, for projects ranging from power generation and financial services to mining and construction, after October’s presidential election run-off following the first multi-party vote in four decades.”We have had a team of up to 30 people looking at various industrial sectors and the government’s identified a number of concrete projects and we’re basically waiting now for a new government,” Thunell said.The central African country’s 1998-2003 war killed nearly four million people – mainly from hunger and disease – slashed output, destroyed infrastructure and drove foreign companies out.The tropical country is endowed with everything from cobalt, gold and diamonds to copper and uranium.”In a post-conflict country you have to have close coordination between government priorities and what we come in and do,” Thunell said in an interview.”We have ideas on how to get electricity generation up, get access to finance out to more people,” he said, adding that there were only 10 000 bank accounts in the nation of 62 million people.Average per capita income is now about US$700 a year.The IFC’S initial focus in banking will be on microfinance as well as on a number of mining projects.”The Belgians are looking at what to do in the harbour in Kinshasa.So we’re trying to see what can we do and what can other people do,” he said.Nampa-Reuters
Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for
only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!