African Development Bank President Akinwumi Adesina completed a three-day visit to the Republic of Congo on 12 May 2019, reaffirming the Bank's strong partnership with the Central African country.
At a meeting with Congolese President Denis Sassou-Nguesso in his hometown, Oyo, some 460 km from the capital, Brazzaville, Adesina declared the Bank’s support for the country’s development plans.
“I wish to inform you that the African Development Bank will continue to support the Government of Congo and the implementation of the National Development Plan. I have great confidence in your leadership and the excellent work and efforts of the government,” Adesina said.
Congo is the fourth largest Sub-Saharan oil producer, with an output of 360,000 barrels-per-day from reserve estimates of around 1.6 billion barrels. It produces around 240 million cubic feet of gas daily from reserves estimated at 111 billion cubic feet.
While commending the country’s bold steps to deal with internal debt, Adesina said the government needed to create incentives in the non-oil sector to spur manufacturing and industry to boost private sector investments and small-to-medium businesses.
The African Development Bank delegation, led by Adesina, and accompanied by President Nguesso, visited the Port of Oyo and other projects including a High School of Technology with the capacity to enroll up to 10,000 students.
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