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Article: World Bank suspends disbursements to Chad.
- Article from:
- M2 Presswire
- Article date:
- January 9, 2006
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M2 PRESSWIRE-9 January 2006-WORLD BANK: World Bank suspends disbursements to Chad(C)1994-2006 M2 COMMUNICATIONS LTD
RDATE:06012006
WASHINGTON - The World Bank will withhold new loans and grants to the Government of Chad and suspend disbursement of International Development Association (IDA) funds allocated to the country. The value of funds being suspended is approximately US$124 million.
This action follows passage of amendments to the country's Petroleum Revenue Management Law by the Chadian National Assembly. These changes would substantially weaken programs to improve the lives of poor people, which the World Bank has been supporting.
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