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The World Bank approves the « Transform » Project to empower women entrepreneurs in the DRC

Kinshasa, May 6th, 2022 (CPA).-The World Bank has approved since Monday, May 2 in Abidjan, Côte d’Ivoire, financing of 300 million USD for the « Transform » project, with a view to supporting women entrepreneurs, improving the growth of existing micro, small and medium-sized enterprises and promote job creation in the Democratic Republic of Congo (DRC), indicates a press release from this institution received Friday at the CPA.

According to this communiqué, the new project will support the creation of up to 2,500 formal businesses, the improvement of capacities and market access for 25,000 women entrepreneurs. It also specifies that it will allow access to finance for 5,000 micro small and medium enterprises (MSMEs) established through grants and a partial guarantee fund for enterprises in the category.

In terms of job creation, the target is set at 28,000 new jobs, adds the source, who says that the TRANSFORME project does not stop there. The TRANSFORME project also plans to contribute to improving the business environment, productivity, infrastructure, quality and certification services in the targeted regions. Implemented over a period of five years, TRANSFORME aims to stimulate diversification, improve technology and induce productivity gains that lead to economic transformation.

“A diverse and thriving private sector is key to the DRC’s economic transformation. Women can play a critical role in this transformation, if they have access to skills, technology, finance, markets and infrastructure,” said Jean-Christophe Carret, World Bank Country Director for the Republic Democratic Republic of the Congo.

“This project will provide that access to young and existing women entrepreneurs and aligns with our Country Partnership Framework which calls for greater economic diversification, a strengthened MSME operating environment and greater gender equality.

« , he said. The source further notes that to capitalize on expanding human resources and nurture a potential pipeline for dynamic growth, the DRC must urgently adopt a strong and sustainable growth path. This path requires a growing private sector to meet the needs of the country’s rapidly expanding population in an inclusive manner.

The new project will enable local entrepreneurs in particular and women in general to ignite economic transformation, strengthen service delivery and create inclusive jobs. TRANSFORME intervenes following the Support project for the development of micro, small and medium-sized enterprises (PADMPME) from which it takes up the essential themes.

A component devoted to financial inclusion whose strengthening of the credit infrastructure is the novelty, it is said.

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