The United Bank for Africa (UBA) has reiterated its commitment to support the government of Tchad in its development initiatives in the areas of infrastructure, Oil and Gas and other key sectors of the economy.
Speaking at a roundtable Forum organised in Paris recently by the government of the Republic of Tchad, on the financing of the National Development Plan 2017- 2021, the Chairman of UBA Group, Mr Tony Elumelu who was represented by the CEO, UBA Francophone Africa, Emeke E. Iweriebor, said that that UBA’s decision to invest in Tchad a decade ago turned out to be a very sound investment decision.
According to him, UBA Tchad has contributed to the growth of the Tcahadian economy through financing infrastructure, a critical lever in sustainable development, adding that UBA Tchad is one of the Pan-African bank’s high performing subsidiaries in Africa and encouraged potential investors to look into Tchad as an investment destination.
He added: “UBA has supported several projects in Tchad including a 60 Mega Watt Central Electricity power plant in Farcha. UBA contributed $18.5million and led the syndication that raised $80 million for the project resulting in an improvement in the access to electricity in Tchad by 3.9 per cent.”