Africa Financial Sector Responses to COVID-19 - Democratic Republic of Congo

Jul 28, 2020

As a Partnership committed to the African financial sector (AFS) development and resilience, Making Finance Work for Africa (MFW4A) has implemented a number of recent initiatives to strengthen the resilience of the African financial sector.

In addition to its webinars series and discussions aimed at identifying the sector's difficulties and solutions, a portal dedicated to domestic and international responses to the impact of COVID-19 on the regional financial sector has been set up.  The exercise consists in monitoring, collecting and classifying by country or region the measures taken by governments, central banks and DFIs in in support of the AFS vis-à-vis the financial impact of the pandemic. 

This page presents measures and initiatives by the Congolese government, national central bank and Development Finance Institutions (DFIs) in support of a resilient domestic financial sector facing the effects of the COVID-19 pandemic.

Disclaimer: This page contains information and links from third parties. These links are being provided as a convenience and for informational purposes only; they do not constitute an endorsement or an approval by MFW4A.

Instrument

Institution

Financing volume

Description 

Monetary policy and rules and regulations

Central bank of Congo

N/A

(April 15, 2020) Economic stimulus measures, including monetary policy measures (key rate cut from 9% to 7.5%), temporary relaxation of regulatory requirements for financial institutions, removal of penalties on delinquent loans, increase to 2,500 USD of the monthly limit of the amounts of daily transactions in electronic money and uncapping of the monthly limit of electronic transactions.