WASHINGTON, July 6, 2018 - The World Bank approved today an International Development Association (IDA)* grant of $35 million to Chad to support the country’s efforts to improve domestic revenue mobilization, particularly of tax and customs revenue.
The Domestic Resource Mobilization and Management Project will finance capacity building activities and computer and network equipment within the Ministries of Finance and Budget, Petroleum and Energy, and Telecommunications and New Information Technologies to improve institutional efficiency and transparency.
“Domestic revenue mobilization, excluding oil revenue, represents a major challenge for Chad in terms of the country’s financial stability and resilience in an environment of fluctuating oil prices. With this project, the World Bank is providing considerable support for revenue mobilization through activities aimed at improving the effectiveness of non-oil revenue collection independently of economic cycles,” said François Nankobogo, World Bank Country Manager for Chad.
The main project beneficiaries are, among others, the Ministry of Finance and Budget and its key departments, particularly the tax and customs departments, which will develop information and monitoring tools for revenue mobilization with support from the project; the Ministry of Petroleum, which will receive capacity building with respect to the supervision of oil operators through audits and development of a petroleum registry and a contract management system; the Société des Hydrocarbures du Tchad, which will benefit from improved decision-making and supervision capacity through the establishment of an integrated management system; and the Ministry of Posts and New Information and Communication Technologies and its agencies, which will receive technical assistance to expedite modernization and boost the effectiveness of the sector.
* The International Development Association (IDA) is the World Bank’s fund for the poorest. Founded in 1960, IDA provides grants and low-interest or interest-free loans for projects and programs aimed at stimulating economic growth, reducing poverty, and improving the lives of the poorest. IDA is one of the largest sources of assistance for the world’s 75 poorest countries, 39 of which are in Africa. IDA resources help effect positive change in the lives of the 1.5 billion people living in the countries that are eligible for its assistance. Since its inception, IDA has supported development work in 113 countries. Annual commitments have increased steadily and averaged about $18 billion over the past three years, with about 54% of commitments going to Africa.
For more information, please see the website: https://www.worldbank.org/en/country/chad
For more information on IDA, visit: www.worldbank.org/ida
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