Emirates News Agency – OPEC Fund provides $11m loan to support higher science education in Chad
Sun 25-09-2022 14:36 PM
VIENNA, 25th September, 2022 (WAM) — The OPEC Fund for International Development (OFID) has provided an $11 million loan to the Republic of Chad to support phase 2 of the expansion project of the National Institute of Science and Technology (INSTA) in Abéché to strengthen higher scientific education.
The project is co-financed with the Arab Bank for Economic Development in Africa (BADEA) and will include the expansion of the institute’s facilities and enable an additional 600 students each year to undergo comprehensive training in technical sciences and biomedicine.
Moussa Batraki, Chad’s Minister of Economy, Development Planning and International Cooperation, and OPEC Fund Managing Director Dr. Abdulhamid Alkhalifa signed the loan agreement in Vienna.
Dr Alkhalifa said: “Inclusive quality education is the cornerstone of social and economic development. Better and sustainable infrastructure, including better housing, academic and social facilities will allow students to focus on their studies and education. We are happy to support Chad. development ambitions in the education sector and Sustainable Development Goal 4 – Quality education.”
Phase 1 of the INSTA project was also co-financed by the OPEC Fund and is currently in the final phase of implementation. It includes the construction and equipping of university facilities and related public services. In phase 2, six student dormitories and a canteen will be built and equipped, in addition to other facilities, including a 1 MW solar power station.
The government of Chad has identified education as a key sector for national development and has adopted a two-year national strategy for higher education, scientific research and professional training in 2021. It aims to increase the number of students in higher education and to link human resource development programs with the labor market.
The OPEC Fund has supported sustainable development in Chad since 1977, providing more than $125 million in financing to date for projects in the transportation, education, and agriculture sectors.