4 December 2004
On November 30, 2004, the World Bank’s Board of Executive Directors approved a $25 million Institutional Reform Support Credit for Chad.
The $25 million loan to the Chadian government aims to support institutional reforms, including improved fiscal management and implementation of a new procurement code, as well as efforts to restructure the cotton sector. Many of the Institutional Reform Support Credit’s objectives are the same as those of past structural adjustment loans, suggesting that little concrete progress has been made to date on some of the measures most essential for meaningful transparency and accountability for the use of public resources. Some observers have questioned the wisdom of lending more money in absence of demonstrated government commitment to enforce laws and follow-up on findings of its own audits.
For more information, see the World Bank's press release.
See also, the project documents on the World Bank's webpage for the Institutional Reform Support Credit.