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Article: World Bank cancels funding of Chadian oil pipeline.
- Article from:
- Sudan Tribune (Sudan)
- Article date:
- September 12, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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September 9, 2008 (WASHINGTON) -- The World Bank said on Tuesday it canceled an oil pipeline funding agreement with Chad on Tuesday, ending long-standing tensions with the government of President Idriss Deby over promises to spend the oil profits on programs for the poor. In a statement, the World Bank said Chad prepaid the outstanding balance of $65.7 million under the $140.7 loan deal on Sept. 5 following talks with the government in August. The impoverished central African country is expected to earn about $1.4 billion in oil revenues this year. The pipeline was one of the World Bank's biggest investments in Africa and billed as a test case for how Africa's oil wealth ...
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Article: Chad reneges on vow to use oil to help poor World ...
International Herald Tribune;
December 14, 2005 ;
700+ words
... ... But in October, Chad's government abruptly ... meeting with the World Bank in N'Djamena ... transparency that guided World Bank Group and other international support for the Chad-Cameroon pipeline project.''World Bank officials have been ...
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