AFFECTED FLOWOutflow (subsidised)
ANNOUNCED AS TEMPORARYNo
Financial assistance in foreign market
On 14 September 2017, the Abu Dhabi Fund for Development announced that it will provide financing (in the form of loans) to local companies based in the United Arab Emirates that are willing to invest in the country of Chad. The financial amount of this financing that will be provided by the Abu Dhabi Fund for Development is USD 50'000'000.
The provision of the denoted financing falls within the framework of the earlier announcement of the Abu Dhabi Fund for Development concerning its decision to provide financing of a worth of USD 150 million for the National Development Plan 2017-2021 of Chad (i.e. an announcement that was made by the Fund itself earlier in September in Paris during the Development and Investment in Chad Conference).
The National Development Plan 2017-2021 of Chad was established by the national government of Chad with the scope to:
Abu Dhabi Fund for Development
The Abu Dhabi Fund for Development is a foreign aid agency established by the government of Abu Dhabi. The agency primarily provides concessionary loans to fund economic and social development projects. The loans provided by this agency are primarily of a soft nature as they are usually accompanied with a 2 – 5 % interest rate per annum, a duration of 15 to 20 years and a grace period ranging from 3 to 5 years. The loans provided by this agency usually finance 50% of the total cost of a project with the exception of projects whose estimated implementation cost is maximum USD 20 million (as in such cases the agency may decide to finance 80% of the project's total cost).
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