The Congo Sinking Fund is a public financial institution with legal personality and financial autonomy.
Its mission is to:
Carry out medium and long-term public borrowing transactions, on the domestic and international market;
Control the issuance of all public loans contracted outside of it;
Manage loan funds;
Serve the public debt with funds provided by the Treasury;
Propose to the Government a public debt policy consistent with the guidelines of the economic and social development plan and tax resources;
Control the issuance of loans from State bodies and State or mixed-capital companies;
Manage the State's portfolio;
Represent the State on the boards of directors of companies with public participation;
Carry out surplus investments of State resources or loan funds pending mobilization;
Receive and manag the revenue earmarked for investments;
Implement State capital expenditure;
Give financial opinions on loan-financed investment projects;
Liquidate the assets and liabilities of any public credit institution not retained by the buyers;
Liquidate the assets and liabilities of any public credit institution entrusted to it;
Collect, in return for payment, doutbful or contentious debts held by banks or public financial institutions;
Collect, in return for payment, any other receivables held by a legal person governed by public law or, State or semi-state companies;
Repay the liabilities of organizations for which it is responsible for debt collection.
The Congo Sinking Fund is under the supervision of the Ministry of Finance, Budget and Public Portfolio. It is administered and managed by a management board and an executive management in accodance with the prescribed procedures.
The resources of the Congo Sinking Fund consist of:
proceeds of borrowings and loans of any kind;
Budgetary credits allocated to the debt;
fund income of all kinds;
revenue allocated to the investment budget.
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