World Bank gives $125 million towards development projects in Chad

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The World Bank Group has announced a $125 million support for Chad. The amount is to help fund development projects in the Central African country.

The bank said the support will be provided as donations in the framework of two agreements signed by Chadian minister of economy, Issa Doubragne on behalf of the government and World Bank resident representative, François Nankobogo.

More specifically, it noted that the funds will provide budget support to the government to improve economic resilience and kick-start recovery measures. It will also help fund refugees and host communities’ support programmes.

The country, confronted with economic crisis aggravated by a heavy debt, has also been facing an influx of refugees from conflict zones in nearby countries, notably territories affected by attacks perpetrated by Boko Haram and other militias.

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