The African Development Bank (AfDB) Group has pledged $540 million in capital funds towards Chad’s National Development Plan (NDP); support in developing bankable projects up to a total value of $1.3 billion; and assistance in strengthening the capacity of its institutions.
“The goals of Chad’s NDP are completely aligned with the vision of the AfDB Group. This is why the African Bank intends to continue supporting efforts in Chad, with projects and programs that reflect this shared vision of development, especially in the energy and agro-industry sectors, while focusing on young people,” AfDB President Akinwumi Adesina said in a statement.
Adopted in July 2017, Chad’s 2017-2021 NDP was launched as part of “Vision 2030- the Chad we want”. The ambitious plan mirrors AfDB’s priorities which focus on agriculture, energy, economic diversification, strengthening the private sector and job creation, designed to speed up development in the 54 member states of which Chad is one.
AfDB’s pledge was announced during an international roundtable in Paris, France organized by Chad to seek funding for the NDP where Adesina was represented by Khaled Sherif, Vice-President for Regional Development and Integration; the Vice-President for Vice-President, Power, Energy, Climate and Green Growth, Amadou Hott; and the Director General for the Central Africa Region, Ousmane Doré at the AfDB.
The AfDB has been active in Chad for over than 30 years and currently has a portfolio of 13 operations, representing nearly $250 million in net pledges. Nearly 90 per cent of the Bank’s investment are in the transport; agriculture and natural resources; and governance sectors.
Chad’s roundtable raised $12.9 billion in funding pledges from both public and private international donors.
It was attended by the Chadian President Idriss Déby Itno alongside members of the Chadian government and nearly 600 other heads of state, decision makers, and leading figures, including the French Prime Minister, Édouard Philippe, the President of the Islamic Republic of Mauritania, Mohamed Ould Abdel Aziz, the President of the African Union Commission, Moussa Faki Mahamat, and representatives of development partners and private investors.