World Bank expects funding of up to $1.4bn to the Democratic Republic of Congo to accelerate development
World Bank President Paul Wolfowitz announced in Kinshasa that he expects funding up to $1.4 billion.
The goal is to accelerate the development process of the country and improve the quality of life for the Congolese people.
Wolfowitz visited Kisangani before coming to Kinshasa and met with a wide range of people including ex-combatants-starting a new life of demobilization and reintegration-business leaders, and women activists.
Wolfowitz said the World Bank's board had approved new procedures in order to be able to respond much more rapidly than in the past to countries in emergency situations.
He said the first grant under these procedures would be one this month for US$180 million to build roads and provide water in Kinshasa, creating jobs in the process. This is part of what could be as much as US$380 million in grants to the DRC this year from the World Bank.
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