Description

The Private Sector Development and Competitiveness Project for Congo aims to increase the competitiveness of the economy, and thereby contribute to economic growth. The project will achieve these objectives by assisting with improving the investment climate; by supporting reform of public enterprises in the mining, telecoms, financial, transport, and energy sectors; by stimulating economic diversification and development in the Katanga region through community-driven development approaches and by facilitating the reintegration of retrenched workers in the local economy through support for training, business development services and finance. There are four components to the project. Component 1: Improving the investment climate. This component will strengthen the judiciary system and improve the legal and fiscal framework by establishing a private national arbitration center, by providing technical and financial support to three commercial tribunals (in Kmshasa and Lumumbashi), by providing training and technical and operational support to the "inspection ginirale de justice", by providing training to the legal gazette staff and operational support to the judiciary, and by disseminating legal information. Component 2: Implementing the parastatal reform. This component will help to strengthen regulatory authorities in the telecommunication, transport and energy sectors through technical assistance and training. It will facilitate divestiture from the public enterprises by supporting formulation of strategies reflecting the consensus of all stakeholders, functional, organizational and non-certified accounting audits, and environmental audits and legal assessments. Component 3: Initiatives for economic development in the Katanga region. This component supports measures aimed at increasing competitiveness of the economy of Katanga, the leading mining region in the Democratic Republic of Congo. Katanga is expected to attract private investment in mining after a brief period of restructuring of parastatal Gecamines. The component would create new economic opportunities for the workers retrenched from Gecamines and other parastatals present in Katanga, and foster regional economic development. Component 4. Project Coordination and Implementation arrangements. The implementation of the project will require regular follow-up from an implementation unit, which will need to monitor financial management of the project, track disbursement, engage in procurement activities when needed.