The World Bank has granted one billion dollars to bolster resilience and improve the livelihoods of people affected by the insurgency in the Lake Chad region. This announcement was made by Mr. Rasit Pertesv, the World Bank’s Country Manager for Chad, during the Fourth Lake Chad Governor’s Forum in N’Djamena, Chad.
The funds, distributed among Chad, Cameroon, Niger, and Nigeria, have contributed to revitalizing economic development, job creation, and enhancing the lives of those impacted by the crises.
The zero-interest financing provided by the International Development Association will support two key regional development priorities. Firstly, it will aid in the recovery of livelihoods, reducing the vulnerability of Lake Chad residents. Secondly, it aims to stimulate cross-border economic activity in sectors such as agriculture, energy, transport, and regional trade, thereby fostering greater opportunities and integration.
The regional stability program, which focuses on restoring and improving security in Lake Chad, was commended by Pertev, who called for sustained efforts to ensure sustainable recovery in economically affected areas.
Amb. Mamman Nuhu, Executive Secretary of the Lake Chad Basin Commission, highlighted the vulnerable environment created by prevailing poverty, unemployment, and illiteracy, which facilitates the spread of extremist ideologies among communities in the region.
The disruption of traditional livelihoods, particularly for the youth engaged in farming and cattle rearing, has made them susceptible to the propaganda of groups like Boko Haram. The Regional Strategy for Stabilisation, Recovery, and Resilience (RS-SRR), developed in 2018, has been instrumental in responding to the complex security, humanitarian, and development challenges in the Lake Chad region.