Democratic Republic of Congo Sets Ambitious $6.6 Billion Investment for Agricultural Transformation

The Democratic Republic of Congo (DRC) has unveiled an ambitious plan to invest $6.6 billion over a decade in its Agriculture Transformation Programme (PTA) as part of its commitment to becoming Africa’s agricultural powerhouse. This announcement reflects President Félix Antoine Tshisekedi’s dedication to unlocking the agricultural potential of the country and diversifying its economy away from dependency on the extractive industries. The PTA leverages the DRC’s vast agricultural resources, including cultivable and irrigable land, diverse climates, abundant fresh water, and extensive grazing areas.

Key Points:

1. Abundant Agricultural Potential:
   • The DRC boasts 80 million hectares of cultivable land, four million hectares of irrigable land, and varied climates conducive to year-round agriculture.
   • Additionally, it possesses a significant share of the world’s exploitable fresh water resources and extensive grazing land capable of supporting a large livestock population.
2. Commitment to Economic Diversification:
   • The investment in the Agriculture Transformation Programme underscores President Tshisekedi’s commitment to reducing the country’s reliance on the extractive sector and fostering economic diversification.
3. Private Sector Engagement:
   • The “DRC Agribusiness Forum,” supported by the African Development Bank and the International Finance Corporation, aimed to mobilize private sector investment in agricultural value chains and promote agribusiness in the Central African nation.
   • Over 700 participants from 28 countries, including government officials, technical and financial partners, and industry stakeholders, attended the forum.
4. National Food and Agriculture Pact:
   • The DRC presented its National Food and Agriculture Pact, a product of the PTA, which was established at the Food Sovereignty and Resilience Summit in January 2023.
5. African Development Bank’s Commitment:
   • The African Development Bank pledged to allocate all available funds during the 2023-2025 African Development Fund (ADF)-16 cycle to support the Agriculture Transformation Programme, aligning with the Bank’s Country Strategy Paper for DRC.

Conclusion: The Democratic Republic of Congo’s ambitious investment of $6.6 billion in the Agriculture Transformation Programme signals a significant stride towards realizing its vision of becoming Africa’s agricultural hub. With its vast agricultural potential and commitment to economic diversification, the DRC is poised to play a pivotal role in shaping the continent’s agricultural industry. The engagement of private sector stakeholders and support from international partners, exemplified by the African Development Bank’s commitment, underscores the collaborative effort needed to drive sustainable agricultural transformation in the region. By prioritizing reforms and establishing a dedicated taskforce, the DRC government reaffirms its dedication to making agricultural development a cornerstone of the country’s progress and prosperity.

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