Chad

Chad Plans Salary Cuts as It Battles to Service Glencore Loan

Posted on by The Editorial Team
Chad Plans Salary Cuts as It Battles to Service Glencore Loan

CHAD (Capital Markets in Africa~) – Chad plans to reduce the salaries of some civil servants by almost half as the country battles to meet debt commitments. The proposed cuts of 5 percent to 45 percent for some public-sector workers will enable the landlocked nation to comply with a wage ceiling agreed under a bailout with the International Monetary Fund, Finance Minister Abdoulaye Sabre Fadoul told reporters Thursday in the capital, N’Djamena. The Washington-based lender approved…

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AfDB with GEF support continues to strengthen resilience to climate change in Africa

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa) — The Global Environmental Facility (GEF) approved USD 35 million in funding to improve climate resilience to be channeled through the African Development Bank for programs in Côte d’Ivoire, Chad, Zambia, in addition to one which spans several countries. The announcement was made at the recent 48th session of the GEF Council Meeting during which the largest GEF work program in its 23 years of history – USD 709…

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New IFC and Ecobank Facility to Finance SMEs in Fragile and Conflict-Affected States in West and Central Africa

Posted on by The Editorial Team
New IFC and Ecobank Facility to Finance SMEs in Fragile and Conflict-Affected States in West and Central Africa

Burundi, (Capital Markets in Africa) -IFC, a member of the World Bank Group, and Ecobank Transnational Incorporated, parent company of the Ecobank Group and leading pan-African full-service banking group, today announced the launch of a $110 million risk-sharing facility that will increase access to finance for small and medium sized enterprises in fragile and conflict-affected states in West and Central Africa. The target countries face extreme and persistent poverty exceeding 50 percent of their populations,…

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Chad to receive $1.1 billion debt relief – finance minister

Posted on by The Editorial Team
Chad to receive $1.1 billion debt relief – finance minister

DAKAR, April 28 (Reuters) – Chad will receive $1.1 billion in debt relief after completion of the Highly Indebted Poor Countries (HIPC) initiative of the World Bank and International Monetary Fund (IMF), its finance minister said on Tuesday. Kordje Bedoumra said in an interview that the oil-producing central African nation – one of the poorest countries on earth – had cut its growth forecast for this year to 5 percent, from 7 percent in 2014,…

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