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Government Launches Multi-million Euro Tied Aid Loan Program in Chad

MTI-Hungary Today 2024.09.24.

An agreement has been signed between Hungary and Chad on a 200 million euro tied aid loan program, that will benefit not only domestic companies but also the people of Africa, Minister of Foreign Affairs and Trade Péter Szijjártó announced in New York on Monday.

Following a meeting with his Chadian counterpart, Mr. Szijjártó said on Facebook that they had picked up with Abderrahman Kulamallah where they left off two weeks ago in Budapest.

More specifically, we are moving up a level by signing the EUR 200 million tied aid loan program that Hungary is providing to Chad,”

he added.

This will allow Hungarian companies to receive orders and work on strengthening the food industry in Chad, as well as on the development of water supply, education and digitalization,”

he underlined.

Szijjártó stressed that illegal migration to the European Union cannot be stopped without cooperation with the Sahel region. “We know exactly how important Chad plays a stabilizing role in this critical region of Africa,” he pointed out. “That is why we are providing assistance that benefits not only Hungarian companies but also the people of Africa,” he added.

Fact

Tied aid is a type of foreign aid that must be spent on products and services provided by companies from the country providing the aid (donor country). In economic aspects, tied aid is aimed at improving the donor countries’ export performance and creating jobs for local companies.

Hungarian Experts and Doctors Provide Humanitarian Aid in Chad
Hungarian Experts and Doctors Provide Humanitarian Aid in Chad

The mission in the Central African country consists of military, humanitarian, economic, and education pillars.Continue reading

Via MTI, Featured image: Facebook/Szijjártó Péter


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