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IFC Supports Economic Diversification in Chad

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 country’s economy.
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 sector.”
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.
About IFC
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 .
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