Chad gets World Bank’s $125m lifeline

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World Bank assists Chad

Chad, a Central African country confronted with huge economic crisis caused by huge debt, has received $125 million lifeline from the World Bank Group.

Aside the economic crisis, the Nigeria’s neighbour 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.

These countries are Nigeria, Niger and Cameroon.

The World Bank’s assistance to help fund development projects will be was provided as donations in the framework of two agreements signed by Chad.

The agreements were penned 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.

It is designed to kick-start recovery measures and help fund refugees and host communities’ support programmes.

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