IMF completes review of the CAR’s arrangement under the ECF, approves US$34.4m disbursement

CENTRAL AFRICAN REPUBLIC – The Executive Board of the International Monetary Fund (IMF) has completed the first and second reviews of the Central African Republic’s (CAR) economic and financial program supported by an Extended Credit Facility (ECF) arrangement which now enables the disbursement of US$ 34.4 million, bringing total disbursements under the arrangement to US$ 51.6 million. In completing the two reviews, the Executive Board also approved the authorities’ request for waiver of non-observance of performance criteria. CAR’s ECF arrangement was originally approved by the Executive Board on December 20, 2019…

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AfDB provides US$3.5m for electricity project and rehabilitation of Boali hydroelectric power station

DRC – The African Development Bank (AfDB) is providing US$3.5 million to the Central African authorities for the implementation of the first phase of an electricity interconnection project with the Democratic Republic of Congo (DRC) and the rehabilitation of the Boali hydroelectric power station in The Central African Republic (CAR). The rehabilitation of the Boali hydroelectric power station is taking shape. The African Development Bank (AfDB) is providing an additional US$3.5 million for the implementation of this crucial project, which should make it possible to reduce load shedding in the…

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