December 15, 2016 / 7:06 PM / 9 months ago

Congo Republic launches bond worth 150 billion CFA francs

BRAZZAVILLE, Dec 15 (Reuters) - Congo Republic launched a 5-year 150 billion CFA francs ($250 million) bond at 6.5 percent interest to diversify the economy and fund infrastructure projects, Finance Minister Calixte Nganongo said on Thursday.

Congo’s economy is expected to grow at 3.5 percent this year, according to World Bank figures.

The economy grew at 2.4 percent in 2015, down from 6.8 percent the year before due in part to lower oil prices. The slump has particularly affected the construction sector, Nganongo said.

Ecobank will be lead arranger for the bond, which will be offered through a public auction.

$1 = 600 CFA francs Reporting by Christian Elion; Writing by Matthew Mpoke Bigg; Editing by Tom Heneghan

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