The Special Economic Zone of Maloukou (north of Brazzaville) has just received from the Arab Bank for Economic Development in Africa (BADEA) a financing of 50 million dollars (or 29 billion F CFA).
14 Feb, 2022

This Financing Agreement for the construction of the Maloukou SEZ was signed on 11 July 2021. However, due to Covid-19's health restrictions, the exchange of initials only took place on Monday 14 February 2022, in the meeting room of the Ministry of Finance, Budget and Public Portfolios, in Brazzaville, between the Congolese Minister of Finance, Rigobert Roger Andely, and the Director General of this bank, Sidi Ould Tah.  Following this exchange of initials, Minister Rigobert Roger Andely spoke to the press in the following interview.


Mr Minister, you have just had a meeting with your host. What was it about?


I had the honour to receive the visit of the Director General of BADEA, Mr. Sidi Ould Tah, following a very good agreement that was signed on 11 July 2021, but for which we did not exchange initials. We did not have time to examine the conditions of execution of this agreement, because of Covid-19.

Today, things are more or less starting to fall into place. I thank him, once again, for having defied Covid-19 and for coming to Brazzaville (from Khartoum, Sudan, the headquarters of this bank, editor's note) so that we can, together, examine the way to implement this agreement of 50 million dollars, within the framework of the realization of the Maloukou Special Economic Zone. I would like to take this opportunity to thank BADEA and its Director General for this wonderful gift they have given us in July 2021!


Will this Agreement cover the other Special Economic Zones in Congo? 


No. This agreement covers only the Maloukou SEZ. It is only a first step, as the President of the Republic, His Excellency Denis Sassou-N'Guesso, says: “A long journey always begins with the first step”.  Moreover, with my host, we examined the possibilities of future cooperation in various fields (such as health), and even in the financing of other special economic zones.  


At what rate is the Congo set to repay the 50 million dollars?


This time, we've got it right, with a rate of 1.5% in one case and 2.5% in the other. This is a very low rate, and quite reasonable! 


Interview by the Press Office of the Ministry of Finance