The African Export-Import Bank (Afreximbank) has approved its largest-ever financing to Chad, providing €110 million in local-currency equivalent to support trade-enabling infrastructure and projects aimed at diversifying the oil-dependent economy.
The facility agreement was signed at Afreximbank’s headquarters in Cairo by Afreximbank President and Chairman of the Board of Directors George Elombi and Chad’s Senior Minister and Minister of Finance, Budget, Economy, Planning and International Cooperation Tahir Hamid Nguilin, according to a statement from the bank.
The proceeds will finance trade-enabling infrastructure projects approved under Chad’s 2026 Finance Law, with the investment expected to improve trade flows, strengthen economic resilience and support the country’s longer-term economic transformation.
According to Elombi, “Afrximbank is pleased to be a critical actor in Chad’s economic transformation journey and commends the government for the bold agenda to structurally transform the national economy. The credit facility is part of a financing programme aimed at supporting the government to deliver on priority projects, including special industrial zones for textile manufacturing and meat processing, transport infrastructure to connect Chad to Egypt and Libya as well as power generation, creation of crude refining capacity, and creation of transport and maritime economic opportunities in Lake Chad, among others.
“These investments will contribute to changing the structure of the Chadian economy and create sustainable employment and wealth for the Chadian people. With these investments, we are steadily placing Africa’s development future in the hands of the African people.”
The financing strengthens an existing partnership between Afreximbank and Chad established under a memorandum of understanding signed in June 2025.
That agreement created a framework for cooperation in areas including Chad’s agropastoral sector, export-oriented agriculture, gold trading, the navigability of Lake Chad, refined petroleum trading and refinery development.
The latest financing is also intended to support local value addition and industrialisation, potentially helping Chad move beyond dependence on crude oil revenues toward a more diversified economic base.
Chad Seeks to Diversify Economy
Chad has been pursuing reforms and investment in agriculture and the oil sector as it seeks to build a more resilient economy.
The government said the Afreximbank financing will help fund infrastructure and trade projects included in the national budget while supporting efforts to convert the country’s natural resources into broader economic opportunities.
Nguilin noted that “The signing of this EUR 110 million financing agreement with Afreximbank marks a major milestone in strengthening the partnership between Chad and the Bank. This financing demonstrates Afreximbank’s renewed confidence in our country’s economic prospects and its ability to harness its potential. The resources mobilized will contribute to financing critical trade-enabling projects included in our national budget, particularly in the areas of infrastructure and the development of trade.
“We are particularly committed to transforming our natural wealth and economic potential into tangible trade opportunities for our economy and our people. This transaction also reflects our determination to diversify our financial partnerships and strengthen regional and continental economic integration. The Government of Chad looks forward to continuing this dynamic partnership with Afreximbank in support of sustainable, inclusive and job-creating growth.” He added.
The projects targeted by the financing include industrial zones for textile and meat processing, transport links connecting Chad with Egypt and Libya, power-generation infrastructure, crude-oil refining capacity and economic opportunities around Lake Chad.
Afreximbank said the investments are intended to strengthen trade connectivity while creating opportunities for local production and employment.
The World Bank has upgraded Chad’s 2026 economic growth forecast to 5.2%, according to the information provided by Afreximbank, reflecting improving prospects as the country pursues economic reforms and investment.
The €110 million facility therefore forms part of a broader push to channel financing into infrastructure and productive sectors that can expand trade, support industrialisation and strengthen Chad’s links with regional and continental markets.
