N’Djamena, July 15, 2013 - IFC,
a member of the World Bank Group, plans to scale up its Investment and
Advisory Services in Chad, helping the Chadian economy to gradually reduce
its dependence on oil. During his visit in N’Djamena, Rashad Kaldany,
IFC VP and Chief Operating Officer, met with government officials, the
private sector and development partners to discuss means to diversify the
Rashad Kaldany said: “IFC’s focus in Chad today is to support the development
of other sectors of the economy, like agribusiness, and to enable access
to finance for small and medium enterprises by working with local banks.
It is critical that Chad promote economic growth through a diverse private
IFC’s current portfolio of $26 million in Chad includes investments in
financial institutions, in mobile telephony and manufacturing. IFC is looking
at new investment opportunities in Chad, including in the agribusiness
and health sectors.
Making business regulation more efficient will help Chad attract more investment.
IFC plans to scale up its investment climate program, to support the government’s
effort to streamline and simplify business transactions, and to scale up
its Business Edge program, which strengthens the management skills of SMEs.
IFC will continue to support local banks in developing their SME portfolio
and plans to develop a leasing program, enabling access to big equipment.
Rashad Kaldany is accompanied by Ousmane Diagana, World Bank Country Director
for Chad, Guinea, Mali, and by Jan Walliser, World Bank Director for Strategy
and Operations in Africa.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, mobilizing
capital in international financial markets, and providing advisory services
to businesses and governments. In FY12, our investments reached an all-time
high of more than $20 billion, leveraging the power of the private sector
to create jobs, spark innovation, and tackle the world’s most pressing
development challenges. For more information, visit www.ifc.org.