WORLD BANK GRANT FOR DRC’S SNCC

In terms of a recovery plan to restore the financial and operational viability of Société Nationale des Chemins de fer Congolais (SNCC – the state railway in the Democratic Republic of Congo), the department has been allocated 90% of funding being made available under a World Bank-backed multimodal transport project. The package is intended to rehabilitate infrastructure and “ensure good governance to support economic integration and national unity”.

SNCC provides the only connection to the outside world for many areas of the country. The World Bank agreed a $US255m grant on 29 June, warning that an SNCC collapse would have “incalculable consequences” for the economy, including the potential growth of the mining sector. The government is to provide a further $US373m for the SNCC recovery plan, and $US25m is coming from the World Bank’s private sector development & competitiveness project.

According to task team leader Pierre Pozzo di Borgo, “the mission of the multimodal transport project is to stimulate economic growth and contribute to poverty reduction through targeted investments and reforms in the management of transport infrastructure and services”.

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