France gives Republic of Congo loan to boost energy sector

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The French government has given the Republic of Congo a loan of 137 million euros to support the country’s energy and urban planing sectors, an official source told Xinhua on Tuesday.

loansThe funding agreements in this regard were signed on Tuesday in Brazzaville by Republic of Congo’s Economy and Finance Minister Gilbert Ondongo and France’s ambassador to the Republic of Congo Jean-Pierre Vidon.

According to Bruno Bosle, the Director of French Development Agency (AFD) which will release the funds, the money will help improve electricity provision.

“This will make electricity supply reliable, restore the quality of supply and reduce technical losses while also improving the management of the National Electricity Company,” Bosle said during the signing ceremony.

The Congolese economy and finance minister said the agreements mark the resumption of sovereign loans issued by AFD for the benefit of the Republic of Congo, something he believes will offer the country prospects for short term intervention measures. Enditem

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