By The African Export-Import Bank (Afreximbank) has signed a 110-million-euro ($120 million) financing facility with Chad, its largest ever commitment to the country, the Cairo-based lender said on Monday.
The agreement, signed on Aug. 5 at Afreximbank’s headquarters, provides local-currency financing that the Chadian government will use to fund trade-related infrastructure projects approved under the country’s 2026 budget law.
Afreximbank President George Elombi and Chad’s Senior Minister of Finance, Budget, Economy, Planning and International Cooperation, Tahir Hamid Nguilin, signed the deal.
The bank said the facility would support Chadian government plans including special industrial zones for textile manufacturing and meat processing, transport links to Egypt and Libya, power generation, crude oil refining capacity and maritime trade infrastructure on Lake Chad.
“The credit facility is part of a financing programme aimed at supporting the government to deliver on priority projects,” Elombi said, adding that the investments would help “changing the structure of the Chadian economy and create sustainable employment and wealth for the Chadian people.”
Nguilin said the financing reflected “Afreximbank’s renewed confidence in our country’s economic prospects” and would help fund infrastructure and trade-development projects in the national budget.
“We are particularly committed to transforming our natural wealth and economic potential into tangible trade opportunities for our economy and our people,” he said, adding that the deal also reflected Chad’s push to diversify its financing partners.
The facility builds on a memorandum of understanding signed by Chad and Afreximbank in June 2025, which set out cooperation in areas including agropastoral development, export-oriented agriculture, gold trading, navigability of Lake Chad, and petroleum refining, according to the bank.
Chad, a landlocked, oil-producing country in central Africa, has been working to diversify an economy long dependent on crude exports. The World Bank has raised its 2026 growth forecast for Chad to 5.2%, Afreximbank said.
Afreximbank, headquartered in Cairo, reported total assets and contingencies of more than $48.5 billion and shareholder funds of $8.4 billion as of the end of December 2025. The bank holds investment-grade ratings from agencies including Moody’s and S&P Global Ratings.
Afreximbank has stepped up lending across Africa in recent months, including a $190 million loan package for Zimbabwe’s CBZ Bank in July and a record $1.5 billion bond issuance the same month.
