Chad to get 142 mln USD budgetary aid

Chad's four main economic and financial partners have committed to give the country a budgetary aid of 142 million U.S. dollars by December 2015, the Resident Representative of the African Development Bank (AfDB) Michel-Cyr Djiena Wembou said Thursday.

Besides the contributions that have already been made, the International Monetary Fund will, in November, disburse to Chad about 48 million dollars, Wembou added when he spoke after meeting Chad's President Idriss Deby.

"It is a drop of water in a bottomless pit," the resident representative of AfDB, Chad's main financial partner, said, and promised that "Chad will receive additional aid in 2016."

According to the finance bill adopted in April this year by Chadian parliamentarians, the country's budgetary deficit for 2015 is about 824 million dollars.

Wembou said the budgetary aid was justifiable, especially because of Chad's military involvement in the peacekeeping efforts in the Sahel region as well as the fall in oil prices, something that caused an internal economic recession.

"Despite the drop in oil prices, Chad is the only country in the sub-region that is actively engaged in the fight against extremism in Mali, Cameroon, Niger and Nigeria," he concluded. Endit