Arab investors to inject 500 bln CFA francs in Chad

APA - Ndjamena (Chad)

nvestors from eight Arab countries (Algeria, Saudi Arabia, Egypt, the United Arab Emirates, Morocco, Oman, Qatar and Sudan), meeting in Ndjamena from 26 to 29 June 2019, have promised to secure 500 billion CFA francs for Chad.

This promise was made at the “Chad-Arab World” International Forum, which follows the one held in Paris, France in 2017 for the financing of the National Development Plan (PND) 2017-2021.

For the 2019 edition, the organizing committee has received several pledges of investments of US$815 million, i.e. nearly 500 billion CFA francs.

These funds will be injected into 12 projects related to infrastructure, energy, urban planning, sanitation and housing, agriculture, livestock, fisheries, mining and quarrying, hydrocarbons and tourism.

Chad’s Minister of Economic Affairs and Development Planning, Issa Doubragne, explained that Chad had turned to the Arab world to make certain investments, the promises of which were made in Paris in 2017.

“The results were conclusive, said a member of the organizing committee.” In fact, a funding agreement worth US$216 million for a telecommunication infrastructure modernization project has been signed with the Chinese government.

For the construction of the new airport of Djermaya, quite extensive negotiations were conducted with the Turkish group SUMMA and allowed to define the main technical and financial aspects of the infrastructure.

For its part, Morocco has promised to provide technical and financial assistance in the development of urban planning, water and sanitation, urban and rail transport, energy and mining.

The Arab Bank for the Economic Development of Africa (BADEA), attending the Ndjamena forum, will appoint an international expert to ensure better project coordination, actions of Arab partners and the diligence of the disbursement of funds.

Meeting the Arab world donors, the Chadian head of state, Idriss Deby, reassured them that Chad was a land of opportunity, citing national resources, particularly in the sectors of livestock, agriculture, and fishing...

President Deby said he was “personally committed to ensuring the implementation of the projects.”

BADEA President, Sidi Ould Tah of Mauritanian said his institution would set up a presidential council to improve the business climate in Chad, insisting, moreover, on the commitment of his bank in favor of an increased role for the private sector, but also to find appropriate solutions to the difficulties faced by investors in Chad.


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