World Bank Closes Door on Oil Pipeline Deal With Chad

The World Bank withdrew its support for a USD4 billion oil pipeline project in Chad, citing the failure of the country to fulfill its commitments under the agreement. The government earlier agreed to allocate part of the oil profits to rural, health and education programs but has reportedly used the revenues to boost military spending. (“World Bank cancels oil pipeline agreement with Chad” - Thomson Reuters, Sept. 9, 2008)

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