The African Development Bank Group and the Chad government have signed a $10.8 million grant agreement to promote stability and economic development in the Lake Chad basin.
The implementation agreement for the “Risk Prevention through Lake Chad Stabilization” (Prostabulent) project was signed by Chad, who is also the governor of the African Development Bank in Chad, Chad, who is the governor of the African Development Bank in Chad, Tahir Hamid Nuguilin of Budget, Economic, Planning and International Cooperation, and Tahir Hamid Nuguilin, Claude Nucodia, Country Manager of the Bank in Chad. The United Nations Development Programme (UNDP), the implementation agency for the project, is also one of the signatories.
The project is a response to key needs to improve the general situation in the Lake Chad region, which has been suffering from the long-standing security crisis and the negative effects of climate change. It aims to restore conditions where development can resume for the benefit of the community.
The Lake Chad Basin is more vulnerable than other parts of Cameroon, Nigeria and Niger’s neighbourhood, due to a lack of human capital and limited access to essential infrastructure. This situation is exacerbated by two major factors: the recent violent conflict that took place there and the long-term climate change that has changed the ecosystems of the lake and surrounding lands. These conditions complicate the production of traditional economic activities – agriculture, fisheries and livestock – that hinder access to markets and form the basis of the local economy.
“The (Lake Chad region) requires a great investment if the lake again becomes what it is, one of the most prosperous, promising and valuable regions in our country,” Minister Nguilin said. “The support provided to young people, women, young entrepreneurs, schools and agriculture in this state is a key lever for the development of the nation.”
N’Kodia highlighted the innovative approach of the project. This will help promote the typical nexus of humanitarian development and introduce positive dynamics into related fields. He said, “The ambitions of the project will not only reduce the risk of reopening or spreading crisis and conflict, but also develop socioeconomic resilience in communities affected by violent extremism and forced displacement, strengthen local and ecosystem climates, and eliminate local vulnerability.”
The project will also help the banks integrate and expand the results and outcomes of the Lake Chad Basin Region Stabilization Mechanism, operated by UNDP in Cameroon and Chad since 2019.
The strategic partnership between the African Development Bank Group and Chad is outlined in the National Strategic Paper (CSP) of Central African Countries Banks and focuses on two priority areas. It is the development of infrastructure to achieve strong and diverse economic growth and promotes superior governance for more effective public action and a more attractive economic environment.
