The International Monetary Fund said on Friday it approved about $348.5 million in funding for the Democratic Republic of Congo after completing reviews of programs under its Extended Credit Facility and Resilience and Sustainability Facility.
The third review of the ECF-supported program unlocks about $258.2 million, while the second review under the RSF allows for a disbursement of about $90.3 million, the IMF said.
Finance Minister Doudou Roussel Fwamba Likunde Li-Botayi said the government would allocate the funds in two parts.
"Approximately $193.9 million will go towards budget support to help finance climate change adaptation measures, infrastructure and social development programmes," he said in an emailed statement. "The remaining amount will help consolidate our external reserves and support the balance of payments."
He added that the government remained "fully committed" to its partnership with the IMF and to the continued implementation of policies aimed at promoting stability, resilience and long-term development.