The African Development Bank (AfDB) has approved the 2023-2028 Country Strategy Paper for the Republic of the Congo, which establishes key areas of focus as sustainable infrastructure, financial and economic governance, human capital, and the development of agricultural and transport sectors.
Announced last week in Abidjan, the strategy also places focus on cross-sector issues including employment, climate change, gender equality, and improved efficiency within the country’s business climate.
“The Bank will give priority to projects that improve agricultural productivity, job creation and access to electricity and roads, in particular rural roads to connect production areas to consumption centers,” stated AfDB General Director for Central Africa, Serge N’Guessan. “It will also continue to conduct studies, provide technical assistance and build capacity.”
As part of the first priority area within the framework, the AfDB will support improvement within the agricultural and agribusiness sectors in the Republic of the Congo, developing value chains to ensure food security, export diversification, job creation and social inclusion.
Meanwhile, the Bank will also strengthen institutional and human resource capacities in macroeconomic and financial governance, with the aim of increasing the share of private investment in the country’s GDP from 16.4% in 2022 to 26.5% in 2025. Specific emphasis will be placed on fiscal policy, domestic funding and public debt management.