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April 03, 2008

The Decree on creation of the Mining Bank of Congo in the Democratic Republic of Congo is signed

On April 1, 2008 the President of Democratic Republic Congo (DRC) J. Kabila signed the Decree on the creation of "Mining Bank of Congo", registered in the capital of DRC Kinshasa. Mining Bank of Congo will give a full spectrum of bank services, including settlement-cash service, crediting of Russian and foreign companies on the security of concessions or objects of the real estate, granting in rent individual safe cells, operations with precious metals, consulting services to the companies interested in the market of DRC. The bank will also finance projects in the mountain extraction, electric power industry and wood sphere.
Today the basic shareholder of bank is IFC METROPOL. In the future the Russian and foreign investors interested in entering the market of DRC will be involved in cooperation. The bank is to begin its activity this year.

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