The Central African Republic has secured a landmark $1.2 billion grant from the World Bank to support the rollout of its newly approved National Development Plan (NDP), marking a major step forward in the country’s pursuit of long-term stability and growth.
The announcement was made by Richard Filakota, Minister of Planning, Economy, and International Cooperation, during a press briefing held in Bangui on April 30.
The funds—equivalent to nearly 700 billion CFA francs—were pledged during the World Bank and International Monetary Fund Spring Meetings held in Washington on April 24 and 25.
“This amount represents double the annual budget of the Central African Republic.
It will be used to finance projects in the sectors of agriculture, education, road infrastructure, including the development of roads up to the borders, hydraulic and solar energy, as well as in the management of natural resources,” the minister stated.
This initial tranche of funding represents 10% of the 7,000 billion CFA francs projected for the full implementation of the NDP, which spans the period from 2024 to 2028.
It marks the first major fundraising success since the plan’s adoption eight months ago and signals growing international confidence in the country’s reform agenda.
Filakota also announced that preparations are underway for a high-level donor roundtable to be held in June in Morocco.
The meeting will bring together development partners and Central African authorities to further mobilize funding and technical support.
“We are in the midst of preparations for the next round table, with the support of Morocco.
But the real question we are asking ourselves is this: how are we going to manage such a large fund? We no longer have the right to make mistakes or be mediocre.
It is time to demonstrate good governance,” he stressed.
The National Development Plan replaces the earlier Recovery and Peacebuilding Plan (RCPCA) and is designed to be more ambitious and structured.
It aims to address the Central African Republic’s deep-rooted economic, social, and infrastructural challenges while laying the foundation for sustainable development.
Source: radiondekeluka
