Thursday May 23, 2024 in Brazzaville, Mr. Jean-Bapiste ONDAYE, Congolese Minister of Economy and Finance, had a working session with the Centerview Partners Cabinet, led by its Managing Director, Mr. Hamouda Shekir. The two parties discussed a “debt-for-nature swap” operation, linked to questions of financing development objectives and the climate transition, as well as issues relating to the preservation of biodiversity.

In the opinion of the Congolese Minister of Economy and Finance, “this involves exploring the modalities of structuring a “debt-for-nature swap” operation, which makes it possible to refinance, at a lower cost. cost, the existing Congolese debt, while financing sustainable projects. Our working session today contributes to this reflection, by combining the structuring of this operation with the negotiation of international investments dedicated to the preservation of nature.”

The Congolese Monetary Authority explained that, for its country with considerable natural capital, “the structuring of a debt-for-nature swap operation presents several advantages. Without being exhaustive, we can cite: the improvement of the viability of the public debt, through early refinancing of the debt and its repurchase at a discount; strengthening the solvency of the State, by smoothing the refinancing profile and extending the average maturity; the diversification of the country's investor base, through the establishment of a credit enhancement allowing it to address international investors;deepening existing environmental programs; the creation of a new financing and governance platform for sustainable development projects; and the strengthening of administrative capacities in project design, which can be used for new large-scale projects in other sectors.”

Note that this meeting was attended by representatives of several other Congolese ministries involved in the issue of financing the economy, strengthening the sustainability and resilience of the Congo in the face of environmental and climatic challenges. Among others, the ministries of regional planning and major works; planning, statistics and regional integration; Hydrocarbons.

The Communication Unit of the Ministry of Economy and Finance

Photo credit: B2B Communication