[mgj-discuss] Chad Oil Pipeline back on!
phipco at riseup.net
Thu Apr 27 06:33:29 PDT 2006
Looks like the Chad oil pipeline is back on. Bring on the human rights abuses!
Agreement ends Chad oil dispute
The World Bank and the Chad government have reached an interim
agreement in their dispute over oil revenue.
The deal reached after talks in the US means the World Bank will
temporarily resume lending to Chad, suspended over fears the oil money
could be misused.
Last month Chad's leader said he wanted to use oil revenues to pay for
weapons to use against rebels.
Two weeks ago, Chad repelled a rebel attack on the capital, N'Djamena
and unrest continues near the Sudan border.
The agreement also allows Chad access to a frozen bank account in
London in which oil revenues are deposited.
The account was blocked in January after the World Bank accused the
Chadian government of reneging on a promise to set aside part of its
oil revenues for long-term social development.
The World Bank helped finance Chad's oil pipeline in return for
guarantees that the money would be used to help the poor.
This agreement had been held up as a model for other projects in
Africa, where oil money has often been stolen by officials or wasted.
The interim agreement is dependent on Chad passing a budget law which
requires the government to use 70% of its oil revenues to reduce
Talks are to continue on a permanent agreement.
Chad had threatened to suspend oil production if was not allowed
access to the oil revenues.
"If I were a monkey, I would be the baddest monkey in the Jungle!"
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