• Home
  • Business News
  • Weekly Reviews
  • Market Reports
Monday, May 19, 2025
  • Login
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
No Result
View All Result
Home Africa

World Bank Suspends $100 Million Payment to the Democratic Republic of Congo

Leah Wamugu by Leah Wamugu
in Africa
Reading Time: 1 min read
A A
0
World Bank Kenya

The World Bank

Share on FacebookShare on Twitter

The World Bank has suspended a $100 million payment to the Democratic Republic of Congo that was meant to support the country’s education system.

RELATED POSTS

Equity Bank South Sudan: A Catalyst for Financial Inclusion

MTN Group Terminates Talks to Buy South Africa’s Telkom

South Africa’s Inflation Rate Rise for Third Consecutive Month to 7.8%.

In June 2020, the World Bank’s Board of Executive Directors approved the $ 800 million Emergency Equity and System Strengthening in Education Project (EESSE), which was implemented over four years. The project is meant to support the Government of DRC’s free primary education program and lower the school fee burden on households and increase access to primary schooling.

However, the World Bank suspended the funds after investigations into the government by Congo’s Inspector General of Finance revealed several shortcomings and alleged cases of fraud and corruption in connection with the use of public funds in the sector and weaknesses in internal controls.

The Washington based lender was supposed to make the first instalment in December; however, On Monday, they released a statement saying “In light of this findings, the disbursement scheduled for December is currently on hold, while we conduct our own fiduciary responsibility”.

The World Bank said it is working closely with the Congolese authorities to gather further information regarding the investigations’ findings, including any proposed corrective actions. The World Bank confirms its strong commitment and support to ongoing governance reforms in the education sector in the Democratic Republic of Congo, including in the strengthening of accountability mechanisms.

Read also: World Bank Forecasts Diaspora Remittances to Decline by 9 Percent in 2020 to Kes 4.7 trillion

Post Views: 953
Buy JNews
ADVERTISEMENT
Tags: AfricaspotlightThe World Bank Group
Previous Post

Crude Oil Prices Continue Gain As Data Shows Decline in U.S Inventories

Next Post

Asian Markets Trade Lower as Data Shows China Service Industry Dropped Sharply in January

Leah Wamugu

Leah Wamugu

Related Posts

Equity Group
East Africa

Equity Bank South Sudan: A Catalyst for Financial Inclusion

by Trading Room Reporter
MTN Telkom SA South Africa
Africa

MTN Group Terminates Talks to Buy South Africa’s Telkom

by Felix Ochieng
South Africa currency
Africa

South Africa’s Inflation Rate Rise for Third Consecutive Month to 7.8%.

by Rosemary Muthoni
East Africa

Kenya to supply Uganda with power after floods shut the key plant.

by Rosemary Muthoni
Next Post
Asian Markets Shenzhen

Asian Markets Trade Lower as Data Shows China Service Industry Dropped Sharply in January

NSE

Market Report; 03 February, 2021

Wall Street

Dow Jones, S&P 500 Register 3rd Straight Gain as Volatility Eases.

Advertisement Banner Advertisement Banner Advertisement Banner
ADVERTISEMENT

Most Viewed Posts

  • Tea Farmers Set to Receive Kes 28 Billion as Final Bonus Payment (4,098)
  • 4 Things You Can Do With the Cashlet App to Achieve Your Financial Goals (2,189)
  • Hilda Njeru Takes over at CDSC (2,056)
  • Safaricom Finally Launches eSIM: Here’s What You Need to Know (1,899)
  • KenGen Gets Nod to Sell 4 Million Tonnes of Carbon Credits (1,798)

Follow Twitter

About Us

Follow Us

Popular Tag

Africa Asian - Pacific Stocks Asian Stock Markets Australian Stocks Bitcoin Bonds Kenya Bonds Trading in Kenya Brent Brent Crude Capital Markets Authority Central Bank of Kenya Corona Virus Pandemic Crude Oil Cryptocurrencies Derivatives NSE Derivatives Trading in Kenya Dow Jones Industrial Average Ethereum European Stock Markets Global Economy Global Markets Hang Seng Index Investing in Kenya Investor Briefing Jakarta Stock Exchange Kenya Economy Kospi index MSCI Index Nairobi Securities Exchange NASDAQ New York Stock Exchange Nikkei N225 NSE Oil Futures S&P 500 Index Safaricom Plc Shanghai Composite Shenzhen component spotlight Stock Market Report Stock Market Review U.S. Stock markets US oil Wall Street WTI Oil Index

Recent News

Equity Group Africa Guarantee Fund

Equity Group Receives 500Mn from AGF in MSMEs Financing Deal

Image of workers of NSE discussing Market report

NSE Market Report 11 April 2025: Britam moves 15.1 Million Shares

  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 The Trading Room Limited.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
TSLA 
$349.98  2.09%  
GME 
$28.45  0.63%  
MSFT 
$454.27  0.25%  
AAPL 
$211.26  0.09%  
AMC 
$2.95  4.98%  
ABNB 
$138.00  0.88%  
GOOGL 
$166.19  1.36%  
AMZN 
$205.59  0.20%  
No Result
View All Result
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports

© 2025 The Trading Room Limited.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?