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Article: World Bank statement on Chad.

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M2 Presswire
Article date:
December 9, 2005
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M2 PRESSWIRE-9 December 2005-WORLD BANK: World Bank statement on Chad(C)1994-2005 M2 COMMUNICATIONS LTD

RDATE:08122005

WASHINGTON - World Bank Group President Paul Wolfowitz today expressed serious concerns about a proposal from the Government of Chad that would significantly alter the Petroleum Revenue Management Law intended to maximize the benefits of Chad's new oil wealth for its citizens.

This law was a deciding factor in the World Bank Group's original support for the Chad-Cameroon Oil Pipeline. Indeed, if properly implemented, the law could help lift millions of Chadians out of poverty through a sound management of oil revenues.

"The issue is ...

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