Felix Tshisekedi dissolved a $1bn fund linked to the World Bank DRC
Posted on May 22, 2023 11:14
Félix Tshisekedi speaks with Albert Zeufack , World Bank country director for the DRC, at the AU compound on 17 March 2023. DRC Presidency The DRC’s Social Fund has been dissolved by presidential order. Justified by a desire to “channel institutional action for greater efficiency,” the decision surprised the World Bank, which was quick to react.
The World Bank learned from the Congolese press that the DRC Social Fund had been dissolved and liquidated by DRC president Félix Tshisekedi. The entity, created by decree in 2002, is financed by international partners, including the World Bank, to implement development projects.
In the process, the organisation was replaced by a public body with the same name, which was merged with the – whose mission is to coordinate the urgent actions and initiatives of the Head of State. The new entity born of this merger will be headed by the formerGet unlimited access to our exclusive journalism and features today. Our award-winning team of correspondents and editors report from over 54 African countries, from Cape Town to Cairo, from Abidjan to Abuja to Addis Ababa. Africa.
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