The facility will promote trade flows, enhance economic resilience, and support the implementation of strategic trade-enabling infrastructure projects that are critical to advancing Chad’s long-term trade, economic transformation, and development objectives
African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has extended its largest-ever financing to the government of Chad with EUR 110 million equivalent in local currency to support the country’s economic development.
The facility agreement, signed on August 5,2026 at the Afreximbank Headquarters in Cairo, Egypt by Dr. George Elombi, President and Chairman of the Board of Directors of the Bank, and Honourable Tahir Hamid Nguilin, Senior Minister, Minister of Finance, Budget, Economy, Planning and International Cooperation of Chad, provides for the proceeds of the facility to be utilised by the government to support trade-enabling infrastructure projects, as approved under the Country’s 2026 Finance Law.
The facility will promote trade flows, enhance economic resilience, and support the implementation of strategic trade-enabling infrastructure projects that are critical to advancing Chad’s long-term trade, economic transformation, and development objectives.
The deal further strengthens the strategic partnership between Afreximbank and the Government of Chad by supporting initiatives that promote local value addition, industrialisation and economic transformation in the country and the region.
This intervention is aligned with the Memorandum of Understanding (MoU) signed between the Government of Chad and Afreximbank in June 2025, which established a strategic framework for collaboration across key sectors, including the development of Chad’s agropastoral potential, export-oriented agriculture, gold trading, the navigability of Lake Chad, refined petroleum trading, and refinery development.
Afreximbank’s President and Chairman of the Board of Directors, Dr George Elombi, described the facility as an important milestone in the Bank’s partnership with the Government of Chad:
” Afreximbank is pleased to be a critical actor in Chad’s economic transformation journey and commends the government for the bold agenda to structurally transform the national economy. The credit facility is part of a financing programme aimed at supporting the government to deliver on priority projects, including special industrial zones for textile manufacturing and meat processing, transport infrastructure to connect Chad to Egypt and Libya as well as power generation, creation of crude refining capacity, and creation of transport and maritime economic opportunities in Lake Chad, among others. These investments will contribute to changing the structure of the Chadian economy and create sustainable employment and wealth for the Chadian people. With these investments, we are steadily placing Africa’s development future in the hands of the African people.”
Honourable Tahir Hamid Nguilin, Senior Minister, Minister of Finance, Budget, Economy, Planning and International Cooperation of Chad added: “The signing of this EUR 110 million financing agreement with Afreximbank marks a major milestone in strengthening the partnership between Chad and the Bank. This financing demonstrates Afreximbank’s renewed confidence in our country’s economic prospects and its ability to harness its potential. The resources mobilized will contribute to financing critical trade-enabling projects included in our national budget, particularly in the areas of infrastructure and the development of trade.
“We are particularly committed to transforming our natural wealth and economic potential into tangible trade opportunities for our economy and our people. This transaction also reflects our determination to diversify our financial partnerships and strengthen regional and continental economic integration. The Government of Chad looks forward to continuing this dynamic partnership with Afreximbank in support of sustainable, inclusive and job-creating growth.”
Chad’s economic transformation is steadily reshaping its economic future through a combination of strategic reforms, agricultural expansion, and sustained investment in its oil sector. Once heavily reliant on crude oil revenues, the country is now making progress towards building a more diversified and resilient economy. This transformation has earned international recognition, with the World Bank upgrading Chad’s 2026 economic growth forecast to 5.2 per cent. Enditem
Source: APO
