| Project Detail |
The Governance and Economic Diversification Support Programme (PAGDE) is a project that will support Congos efforts to stabilise the macro-economic and budget framework with a view to building its resilience to shocks and diversifying the economy in preparation for the post-oil era. Hence, it will support the Government in laying the foundation for inclusive and sustainable growth, while limiting any negative impact on climate. Accordingly, it intends to support measures that help to improve governance and efficiency in the management of public resources, create enabling conditions for the development of private investment, and support the "sustainable" exploitation of natural resources (gas and forestry sectors) such that they become a vector for inclusive growth and the development of productive sectors. PAGDE has two (2) components: (i) Improving economic and budgetary governance; and (ii) Economic diversification and “sustainable” valuation of natural resources (gas, forests, etc.). The Programme will focus on establishing an economic and regulatory framework conducive to private investment by: (i) stabilizing the macroeconomic framework; (ii) maintaining fiscal sustainability; and (iii) enhancing governance and reinforcing anti-corruption measures. The programme will also support economic diversification and efforts towards combating climate change by: (i) developing the forestry sector; (ii) establishing a regulatory framework for the gas sector; and (iii) reforming the energy sector.
Project Objectives
The programme aims to build the resilience of Congo’s economy and reduce its vulnerability to oil revenue fluctuations by enhancing economic governance, diversifying sources of growth, and strengthening competitiveness. In other words, the project aims to maintain a stable macroeconomic framework, strengthen the resilience and competitiveness of Congo’s economy, and reduce its vulnerability to external shocks, including climatic ones. The first component seeks to enhance economic management by focusing on public investment efficiency and modernising the governance of public enterprises, while the second aims to promote the diversification of Congo’s economy and productive sectors by strengthening competitiveness factors and developing hitherto under-exploited natural resources. |
