The Democratic Republic of Congo has made its debut on international capital markets, successfully issuing $1.25 billion in eurobonds (sovereign bonds denominated in foreign currency and sold to global investors) despite receiving nearly $5 billion in bids. Finance Minister Doudou Fwamba announced at a press conference in Kinshasa on 13 April that the funds will finance a range of priority projects, including a major new terminal at Kinshasa's international airport, 300 kilometres of roads, a 64-megawatt hydroelectric plant, and an electrical transmission network linking Zambia to the DRC's copper-mining belt. The minister said the UN Development Programme will oversee fund management to ensure transparency, and that the issuance — backed by projects vetted with IMF support — raises the country's debt-to-GDP ratio only modestly, from 18.1% to 19.5%.