Facebook Bankable LinkedIn Bankable
Twitter Bankable WhatsApp Bankable
Bankable
Bankable

MOST READ

African Economies

DRC Cleared for Japanese Loans, Paving Way for Major Infrastructure Deals

DRC Cleared for Japanese Loans, Paving Way for Major Infrastructure Deals

The Democratic Republic of Congo (DRC) has been officially removed from Japan's list of countries ineligible for credit, a key step in strengthening economic cooperation between Kinshasa and Tokyo.

The decision was made on the sidelines of the ninth Tokyo International Conference on African Development (TICAD9) in Yokohama, Japan. During a meeting with Japan's Minister of Economy, Trade, and Industry, Yōji Mutō, DRC's Deputy Prime Minister and Minister of National Economy Daniel Mukoko Samba praised the development, stating that it opens the door to larger Japanese financing.

"We have been on this list for a very long time. But thanks to partial debt relief, improved economic conditions, and maintaining the electoral cycle, all the guarantees have been given," Mukoko Samba said. "Today, economic cooperation is no longer limited to modest amounts of development aid but is open to major projects."

Beyond access to concessional loans, Kinshasa and Tokyo have agreed to begin negotiations for an investment promotion and protection agreement. The two parties also discussed energy cooperation and opportunities for sustainable economic projects.

Mukoko Samba noted that while a few Japanese startups are already present in the country, the absence of major corporations remains a gap to be filled. He said the DRC’s removal from the ineligible list is a strong signal to encourage their return and support structural projects in energy, infrastructure, and other strategic sectors.

Japan, which has a history of involvement in the DRC through iconic achievements such as the OEBK Bridge in Matadi and the Congo-Japan Boulevard in Kinshasa, could now strengthen its economic footprint with new investments.

Boaz Kabeya

Subscribe to our newsletter (free)

Receive daily news and analyses from the Bankable editorial team.

 
 
mohamed-cherif-takes-over-afdb-drc-office-with-mandate-to-speed-up-projects
Mohamed Chérif is the new African Development Bank (AfDB) country manager for the Democratic Republic of Congo. Although the Bank has not yet formally...
gecamines-looks-to-replicate-morocco-s-ocp-model-to-enter-battery-chemical-sector
Guy-Robert Lukama, who has chaired the board of Gécamines since February 2023, is advancing an ambitious strategy for the state-owned mining company. He...
eu-s-von-der-leyen-highlights-clean-energy-push-green-corridor-plan-in-the-drc
European Commission President Ursula von der Leyen has outlined the European Union's priorities in the Democratic Republic of Congo, with clean energy...
justice-minister-guillaume-ngefa-targets-military-foreigners-in-illegal-mining-sweep
Democratic Republic of Congo (DRC) Justice Minister Guillaume Ngefa has ordered prosecutors to take legal action against those involved in illegal mining...

African Economies

MOST READ

Please publish modules in offcanvas position.