The Chadian government has announced that it has obtained a 500 million USD loan from the United Arab Emirates (UAE), via the Abu Dhabi Fund for Development. This envelope is spread over a period of 14 years at an interest rate of 1%

This loan with a maturity of 18 years, with a grace period of 4 years, was taken out at an interest rate of 1% per year, according to a statement issued by the CNT, which acts as an interim legislative body.

The new funding aims in particular to financially strengthen the capacity of the Chadian government to respond to emergencies caused by the severe floods that occurred this year, the same source said.

The ratification of the loan agreement took place about ten days after the visit of the Chadian President, Mahamat Idriss Déby (photo), to the United Arab Emirates (photo), to the United Arab Emirates, during which he met in particular with his Emirati counterpart Mohammed bin Zayed Al Nahyan.