WASHINGTON, September 12, 2018 - Today, the World Bank Board of Executive Directors approved a grant totaling $65 million in budget support for Chad under the Economic Recovery and Resilience Development Policy Operation. This is the first of two development policy operations for the 2018-2019 period.
“This support focuses on policies and actions aimed at strengthening budgetary risk management, transparency and management of oil resources, economic resilience and diversification, as well as the protection of vulnerable populations,” stated Soukeyna Kane, World Bank Country Director for Chad.
The Economic Recovery and Resilience Development Policy Operation in Chad follows an emergency budget stabilization operation implemented in 2017. This is a medium-term measure supporting Chad’s ongoing efforts to improve the management of fiscal resources and risks, and implement structural reforms to foster growth, while ensuring the protection of the most vulnerable.
The World Bank is collaborating closely with other technical and financial partners operating in Chad including the International Monetary Fund (IMF), the European Union (EU), Agence Française de Développement (AFD), and the African Development Bank (AfDB) to identify the priority reforms underpinning its budget support program.