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Stabilization of the Lake Chad Basin: ADF finances Cameroon and Chad to the tune of $17.97 million

13/11/2024
Source : ORISHAS FINANCE
Categories: Sectors

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Dans l' intention de renforcer les efforts des stabilisation du bassin of Lake Chad, the African Development Fund (ADF) has granted financing of nearly 18 million US dollars to Cameroon and Chad.

The Lake Chad Basin is one of the most affected regions in the world by the effects of climate change. The envelope granted by the concession window of the African Development Bank Group consists of a grant of 11.11 million dollars to Chad and a loan of 6.86 million dollars to Cameroon. This envelope aims to prevent risks by stabilizing the Lake Chad basin. According to the Director General of the Bank for Central Africa, Serge N'Guessan, “the financing that has just been approved is a significant amount of support from the African Development Bank Group to the governments of Chad and Cameroon to deal with the socio-economic effects of the crisis in the Lake Chad Basin. This operation aims to prevent the expansion of violent extremism in the Lake Chad Basin region through the preservation of human capital and the empowerment of communities.”

The project consists of three components, namely, the improvement of security, access to justice and the restoration of resilient essential services; the revitalization of the local economy and the creation of sustainable and climate-sensitive jobs for women and young people; and the strengthening of social cohesion and regional cooperation. It will provide intervention areas with security, justice, education and health infrastructures. Likewise, said project will make it possible to build market infrastructures, the vocational training of young people, women and unqualified displaced populations in the trades of carpentry, sewing, welding, fishing, agriculture, pastoralism, green trades, green trades, the rehabilitation of productive lands, the rehabilitation of productive land and the improvement of access to finance for local economic operators, among

others.
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