Chad to create strategic investment fund to revive economy

The expected creation of a sovereign strategic investment fund is an opportunity to revive Chad's economy, the country's Finance Minister Mahamat Allamine Bourma Treye said Thursday.

"The fund is necessary to harmonize actions of both national and foreign investors around strategic projects linked to the country's Vision 2030," Treye said when he spoke in the capital N'Djamena during a workshop to validate a report on the creation of the said fund.

He noted that it was prudent for the state to be involved, especially under the prevailing circumstances that are characterised by dwindling resources due to the drop in oil prices and insecurity caused by Boko Haram terrorist group as well as a weak private sector.

Speaking during the same function, the Resident Representative of the African Development Bank Michel-Cyr Djiena Wembou said the fund will be an innovative investment tool.

He proposed that the fund should be used to finance projects in the agriculture sector, especially with regards to value addition and job creation.

The creation of the invest fund is part of the government's efforts to improve the business environment and diversify the national economy. Endit