Lawmakers in Chad on Wednesday approved two major bills ratifying international financing agreements worth over $42 million, aimed at strengthening food security and economic development.
The first agreement involves a $6.2 million loan from the Arab Bank for Economic Development in Africa to support Chad’s participation in the capital increase of the African Solidarity Fund.
The move is expected to enhance the fund’s financial stability, expand its guarantee capacity, and reinforce Chad’s role within the pan-African financial mechanism.
The second bill ratifies two additional loan agreements with BADEA and the OPEC Fund for International Development, totaling $36 million.
These funds will finance the second phase of an integrated rice development project in the Chari-Logone plain, aimed at boosting national rice production, improving food security, and creating jobs in rural communities.
The approvals reflect the government’s strategy to leverage external financing to advance agricultural growth and move toward greater food sovereignty.
