|July 12, 2014 Edition||
Welcome to Press Release 365!
Login | Register | FAQs | Contact
E.J. Miller of Intercontinental Development Corporation Helps Relieve DRC's Debt
Aug 15, 2011
ROCKVILLE, MARYLAND -- Ekram J. Miller, President of Intercontinental Development Corporation (IDC) met with Mr. Claude Nyamugabo, the DRC Minister of Youth, Sports and Recreation in 2009. This meeting developed into a friendship, and in 2010 they resolved to work on economic development in the Democratic Republic of the Congo.
During these meetings in Mr. Miller's Maryland Headquarters, the two gentlemen, both avid sports fans, discussed funding the infrastructure needed to host the Africa Cup Of Nations Soccer in the Democratic Republic of the Congo in the year 2015.
Mr. Miller brought his team of experts and lawyers to Washington D.C. to meet with Minister Nyamugabo and DRC Cabinet Director Nicaise Chikuru and soon got approval on an infrastructure funding loan application for $1.5 billion through the World Bank.
Ekram J. Miller then learned that the biggest obstacle faced by the DRC was their participation in the International Monetary Fund's HIPC (Heavily Indebted Poor Countries) Initiative. Mr. Miller then brought all of Intercontinental Development's team together with lobbyists and lawyers to solve this new problem.
In July of 2010, Mr. Ekram Miller accompanied the DRC delegation to a meeting with the IMF and the World Bank and arranged for this debt to be forgiven by U.S. President, Barak Obama International Monetary Fund and International Development Association then supported the $12.3 Billion (USD) in Debt Relief to the Democratic Republic of the Congo. The Democratic Republic of the Congo is the first country in Africa to be debt free.
Moved by Mr. Ekram J. Miller's unwavering devotion to the economic needs of the DRC, Mr. Claude Nyamugabo, the DRC Minister of Youth, Sports and Recreation, along with DRC Senator Jean Willy Tshibala and Cabinet Director Nicaise Chikuru, again traveled to the USA to meet with the Feasibility team at IDC to work on DRC development projects.
With the IMF decision in place, and the support of the DRC President and Cabinet ministers, Ekram J. Miller, confident in the entreprenurial spirit of the dedicated DRC citizens, formed the company, National Sports Investment, Inc. in 2010. Mr. E.J.Miller then prepared to fund that company with US $2.3 billion to bring the prestigeous Africa Cup to the DRC in 2015.
Beginning in 1957, countries throughout Africa have fielded teams well versed and well trained in this challenging and fast paced sport. Many African Nations have taken their wins to the prestigious World Cup matches, and now the DRC under President Joseph Kabila Kabange intends to continue this rich tradition of soccer (football) competition. Minister Nyamugabo has a mandate to revolutionize and restore Congolese sports to support and empower the youth of his country.
Although the Africa Cup was awaarded to South Africa in 2015, with the company National Sports Investment in Place, and the continuing confidence and friendship of the Government of The DRC, Ekram J. Miller and IDC are poised to make the DRC dream a future reality.
Keywords: E.J. Miller, Ekram J. Miller, IDC, IMF, DRC Business » Services
Send to Blogosphere
Press Release Services
Press Releases By Month