The Minister of Finance of the Democratic Republic of Congo (DRC), Doudou Fwamba Likunde, stated that his country is preparing its very first issuance on the international bond market. “Our priority is to access the international capital market, not only to raise funds, but also to create a dynamic that allows the private sector to raise capital and invest in the country,” the minister said, as quoted by Reuters on Wednesday, February 11.
Doudou Fwamba Likunde is aiming for an amount of 750 million USD, but the exact date of the operation has not yet been announced. “It will all depend on the state of the market… when the time comes, we will be ready,” he said. He specified that this loan would be used to finance several major projects, including the modernization of the N’djili International Airport and roads in the capital Kinshasa, as well as hydroelectric power plants and rural infrastructure.
With a debt level of 18.5% of GDP, Kinshasa would thus follow in the footsteps of Brazzaville, which has just carried out, for the first time as well, an issuance of international bonds in the amount of 700 million US dollars, with a coupon of 9.5% and a final maturity set for January 2035.
