The Democratic Republic of the Congo (DRC) is Africa’s second largest country by area and its fourth most populous. Years of civil war, beginning in 1998, devastated the country, and despite the signing of peace accords in 2003, pockets of fighting continue. In the 2012 Human Development Report, DRC was ranked 186th out of 187 countries.
How We Are Helping?
UNCDF has been helping DRC meet its development challenges by supporting programmes in the areas of inclusive finance and local development finance. Through joint programming with UNDP, UNCDF is helping the Government to take advantage of the current climate – relative political stability, economic progress, recognition of microfinance as a priority sector by public authorities, a strong demand for these services, and renewed interest from the international community – to restore the country’s microfinance sector. In this context, UNCDF is implementing the second phase of its Programme d’appui au secteur de la Microfinance (PASMIF II), which aims to promote an inclusive financial environment in the Democratic Republic of Congo.
In addition, UNCDF is implementing MicroLead, a fund for developing savings-led market leaders for inclusive finance in the least developed countries; and Youthstart, an initiative to increase access to financial services for low-income youth in sub-Saharan Africa.
In the area of local development finance, UNCDF is implementing the Appui à la Décentralisation et au Développement local (PADDL) programme to support the government in its decentralization strategy based on reforms made possible by the 2006 Constitution. As responsibility for providing basic services has been progressively decentralized to the provinces, the project has been helping to develop capacities at the local level.