In order to promote growth and access to financing micro, small and medium-sized enterprises, the World Bank has approved a donation from the International Development Association (IDA) of a amount of 100 million dollars.

The Development and Access to Finance Project micro, small and medium-sized enterprises (MSMEs) in Chad will contribute to improve the business climate by facilitating, in particular, the creation of companies, the functioning of commercial courts and better access to up-to-date and relevant regulatory information applicable to businesses. This project will strengthen the support ecosystem for entrepreneurship by implementing a new Center for the Development of enterprises (CDE) which will deploy several support programs for entrepreneurs and SMEs, with a particular focus on projects worn by young people and women.

This project will last 6 years and will benefit primarily to micro, small and medium businesses across the country and will reduce the average time to resolve a dispute in a commercial court, will promote the access of nearly 8,000 MSMEs to credit.

2,000 micro, small and medium businesses will benefit from the support services offered by the Center for Business Development and 200,000 people will benefit from financial education program.

According to the Bank global, “the project will promote financial inclusion and access to financing MSMEs, by operationalizing a guarantee fund and creating a financial education program for them. The project will thus improve the ability of businesses to access finance and will reduce the associated risk to loans granted by financial institutions.”