Lake Chad Basin Commission Basin (not all of which feeds Lake Chad) includes eight countries, which, in descending area of land, included are: Chad, Niger, the Central African Republic, Nigeria, Sudan, Algeria, and Libya. Cameroon, Niger, Nigeria and Chad (the four countries directly containing parts of Lake Chad and its wetlands) signed the Fort Lamy (today N'Djamena) Convention on May 22, 1964, which created the Lake Chad Basin Commission. The Central African Republic joined in 1996, and Libya joined in 2008. Sudan was admitted in July 2000, but has observer status because it has not ratified the founding convention. Algeria has not participated. The
Niger River Fund. The World Bank approved a US$500 million soft loan in July 2007 to finance projects in the basin over a 12-year period. Funding will be awarded in two phases. The initial $185 million credit will go to Nigeria, Guinea, Benin, Mali and Niger. The second, $315 million investment, is slated for Burkina Faso, Cameroon, Chad and Ivory Coast. Besides financing the rehabilitation of dams in Nigeria, the loan will also fund the "sustainable management of selected degraded ecosystems and rehabilitation of small water infrastructure" and capacity building. In September 2009, the Nigerian government commenced a 36 billion naira dredging