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Article: Chad : World Bank calls-off Chad oil deal.
- Article from:
- TendersInfo
- Article date:
- September 15, 2008
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Byline: Mamta03
The World Bank has called off its oil pipeline deal with Chad over a dispute with the government on its failure to channelise profits to tackle poverty in the country.
The bank had provided financial backing for the oil project in an effort to enable the African country to tackle poverty by channeling the proceeds on development projects including health and education.
The pipeline was widely regarded as a test case for chanelling Africas oil wealth to benefit its poor and spur development in the fund-starved countries in the continent.
In December the government of President Idriss Deby fell out with the bank, when it ...