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  • FPI loan interest rate reduced to 4% for young and female entrepreneurs
angle-left FPI loan interest rate reduced to 4% for young and female entrepreneurs

The Ministry of Industry reduces the interest rate of FPI credits (the Industry Promotion Fund) from 9% to 6% for companies and to 4% for young and female entrepreneurs

Accelerated presidential program to fight poverty and inequality underway

05 Nov 2019 - 00:00:00
The Democratic Republic of Congo is in the process of developing its policy to promote local industry, said Julien Paluku, Minister of Industry, during his last press briefing held in Kinshasa. During this press briefing, he announced the measures to accompany the “Accelerated presidential program to fight against poverty and inequalities”, launched on October 16 by the Head of State, and which aims to come out in the next 5 20millions of Congolese living in rural and peri-urban areas of poverty and extreme poverty. In order to promote Small and Medium Enterprises (SMEs), the Minister of Industry has declared that the common interest rate is set at a maximum of 6% for companies and 4% for young entrepreneurs. “Because of their promotional nature, financing from the Industry Promotion Fund intended for investment will now be granted at a maximum interest rate of 6% for all companies. Specifically the business projects of young and women entrepreneurs will be funded at 4%,” he said. Industry Minister Julien Paluku Kahongya has also banned any political interference in the operation of the Industry Promotion Fund (FPI), a public company under his ministry. quotIt must not in any case be credits of a political nature. Any political interference likely to deviate the interventions of the FPI from its mandate as set out in decree number 09/64 of December 03, 2019 fixing the statutes of a public establishment, called Fund for the Promotion of Industry FPI, is prohibitedquot, he declared during a press conference in Kinshasa. On this occasion, the Minister of Industry made the commitment to finalize the document of this industrial policy and to have it validated by the Council of Ministers for its implementation.

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