Chad, through the Ministry of the Economy, Development Planning and Cooperation and the European Investment Bank (EIB) proceeded this afternoon to the signing of agreements relating to the financing of the Chad’s participation in the capital of the African Trade Insurance Agency, technical implementation for digital transformation and support for small and medium-sized enterprises.
The European Investment Bank (EIB) reaffirms its commitment to sustainably support the growth and economic development of Chad. The EIB’s support is materialized by the granting of three financings to privileged partners.
The first concerns a sovereign loan to the Republic of Chad of 15 million euros, or 9.8 billion FCFA to finance the acquisition of Chad’s participation in the capital of ACA (Agency for Trade Insurance in Africa). “The EIB welcomes the Chadian government’s initiative to join the Africa Trade Insurance Agency. We are honored and proud to be alongside Chad in this historic step forward, “said the head of the EIB’s representation for Central Africa, Nikolaos Milianitis.
The second financing is a long-term credit line in favor of Société Générale in the amount of 10 million euros (6.6 billion CFA). This operation is part of the European Union’s “Team Europe” initiative, which aims to support partner countries in the fight against the Covid-19 pandemic and to mitigate the immediate socio-economic consequences.
Finally, the last operation is a cooperation agreement for the establishment of technical assistance relating to the digital transformation project of Chad. It aims to finance the implementation of Chad’s digital reform and modernization program.
“I am asking for even more commitment from the European Investment Bank alongside the private sector as well as the State, to meet the many challenges we are facing and which are worsening with the socio-economic consequences of the measures taken. by the government to counter the pandemic ”, pleads the Minister of the Economy, Issa Doubragne.
