WASHINGTON, D.C., Apr. 2—The Republic
of Chad joined the International Finance Corporation today in a signing
ceremony in Washington, D.C. This brings the Corporation’s total
membership to 174 countries.
IFC’s Articles of Agreement were signed by H.E. Mr. Mahamat Saleh Ahmat,
Ambassador of Chad to the U.S. on behalf of the Government of Chad.
Chad's membership will enable IFC to offer the country its full range of
project financing and technical assistance services. Initially, IFC
will focus its efforts on the key sectors of agribusiness, manufacturing,
natural resources and financial services which have a positive developmental
impact on the economy.
IFC will give special emphasis to Chad through a program called “Extending
IFC’s Reach Initiative,” which is designed to help IFC be more effective
in countries that have challenging investment environments, limited flows
of foreign direct investment, and other constraints to private sector activity.
IFC, part of the World Bank group, fosters economic growth in the developing
world by financing private sector investments, mobilizing capital in the
international financial markets, and providing technical assistance and
advice to governments and businesses.