Lake Chad Basin Commission a member of the International Network of Basin Organizations (INBO). The Lake Chad Basin Commission was created in 1964 by the four countries bordering Lake Chad: Cameroon, Chad, Niger and Nigeria. The Republic of Central Africa joined the organization in 1996, Libya was admitted in 2008. Observer status is held by Sudan admitted, Egypt, the Republic of Congo and the Democratic Republic of Congo. The aims of the commission are to regulate and control the use of water and other natural resources in the basin and to initiate, promote, and coordinate natural resource development projects and research. Hydrologically, the Chad
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