AfDB President pledges deeper co-operation with Chad on energy sector

African Development Bank President Akinwumi Adesina, on 17 May  2019, pledged to deepen cooperation between his organization and Chad, to help the central African nation to meet critical development financing needs.

At a meeting with Chadian President Idriss Deby in the landlocked country’s capital, N’Djamena, Adesina also called on development partners to support Chad’s energy sector to increase power generation capacity to 400 megawatts per year, from less than 100 megawatts currently.

“The Bank will provide budgetary support to Chad in 2020 and 2021,” said President Adesina, referring to the country’s financing needs. Critical areas in need of funding are energy, infrastructure, agriculture, water and environment, private sector and capacity building, government officials said.

Chad’s Economy and Development Planning Minister Issa Doubragne said his country relies on the Bank for strategic investments.

At a separate meeting with development partners and private sector representatives, Adesina said the Bank will support Chad to implement reforms and rationalise its investment choices. He urged the country’s leadership to improve the business environment and attract more private investment by promoting private-public partnerships.

Livestock and agriculture account for 15.1% and 19.4% of Chad’s GDP. The nation is currently under a $312 million IMF aid program to restore macroeconomic stability.

“Agriculture is not a sector for managing poverty; it’s a sector for creating wealth,” Adesina said, adding that the Bank is ready to work with Chad to create agro-industrial zones to support the population and increase the tax base.

The Bank’s delegation included its Executive Director for Chad, René Obam Nlong; Director-General in Central Africa, Ousmane Doré; Special Envoy to Shareholders, Modibo Touré; Country manager for Chad, Ali Lamine Zeine, and the Principal-Country Economist, Alassane Diabaté.

Chad has been a member of the Bank since 1968. By December 2018, the country benefited from 81 projects financed with loans and grants totaling $880 million. The Bank’s interventions cover infrastructure (agriculture, water, roads and energy) and human development – health and education.

 

Source: AFDB

Share

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...