WASHINGTON, December 13, 2022 – Today, World Bank Group President David Malpass met with Mahamat Idriss Déby Itno, the TMC President of Chad.
President Malpass expressed his deep concern for the people of Chad living with the deteriorating security situation and emphasized the importance of peace, political stability, and good governance in Chad and the region. President Malpass underscored these factors as essential for the people of Chad as they work to develop and grow their economy.
President Malpass and TMC President Déby discussed recent macroeconomic developments and Chad’s efforts to restore debt sustainability under the G20 Common Framework debt restructuring process. Given ongoing large and unmet development needs, President Malpass highlighted Chad’s medium term debt sustainability challenges amidst mounting domestic debt, volatility in oil prices, and exposure to frequent shocks. President Malpass reiterated the World Bank Group’s (WBG) focus on improving the livelihoods of the people of Chad, to which achieving long-term debt sustainability and macroeconomic stability would be essential. President Malpass and TMC President Déby also spoke about the need for more resources from the international community to support security efforts in the G5 Sahel region.
President Malpass informed TMC President Déby that the WBG’s Board of Executive Directors has endorsed the WBG’s Chad Country Engagement Note (CEN), which adopts a people-centered approach to WBG activities in Chad. President Malpass noted the WBG’s extensive support to the people of Chad in the form of grants and highly concessional loans, including for education, health, energy, and social safety nets.
President Malpass highlighted to President Déby the importance of enhanced citizen-state relations, improved economic governance, inclusive access to basic services and infrastructure, and the promotion of natural resource management and sustainable agriculture. President Malpass urged the timely and effective implementation of the WBG projects based on accountability and good governance.
