State of Chad raises funds on the regional market for infrastructures
22 July 2011
The Prime Minister of Chad, Emmanuel Nadingar, said last Wednesday that the operation "Chadian State 6% net 2011-2016 bond", issued on May 24 2011, is a "success" and that the bond was "fully subscribed", reports the Xinhua press agency.
In fact, while an overall total of 100 billion FCFA (216.1 million USD) was sought on the regional market, 107.6 billion FCFA was raised.
"The funds raised by this bond will be used, firstly, to carry out a certain number of public investment projects which are indispensable for the development of Chad and secondly to pay off its internal debt", said the Minister of Finance and Economic Planning, Gata Ngoulou, quoted by Xinhua.
Several projects in the domain of transport infrastructures will benefit in particular from this borrowing, including the project to complete construction of the airport at Moundou, the project to modernize the national road network, and the improvement and bituminization of the roads in N' Djamena.