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CHAD JOINS IFC


L. Joseph
Phone: (202) 473-7700
Fax: (202) 974-4384
E-mail: Ljoseph@ifc.org
 


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.