Chad-Cameroon discussions reach peak
News||15 June 1999|update 13|
The Bank is due to decide in the next few weeks whether to support the Chad-Cameroon oil pipeline. Chad's Country Assistance Strategy will come to the Bank's Board in July, and loans for the project itself in September. NGOs remain concerned about a number of issues, for example the amount of money that Chad and Cameroon can expect to gain, what this will be used for, the security/human rights situation in the two countries and how well the project's villager compensation and environmental strategy will be implemented.
The Bank's Country Strategy states that: "the likely development prospects in the absence of oil are bleak." It estimates that oil revenues will average between $45m and 270m per year during the first seven years of full oil production (depending on oil prices) and says that a new Revenue Management Law for Chad will ensure it is invested in human resources and infrastructure.
Bank project staff also claim that there is
The Bank is overlooking an April declaration by Chadian civil society groups and a document sent out by Chadian NGO network CILONG in May. These requested a two year moratorium on project approval so that more studies and consultations can take place on remaining controversial issues.
As Jaroslava Colajacomo of the Riforma della Banca Mondiale, Italy, points out
A critique by German NGO Urgewald of the Bank's leaked Country Strategy stresses the poor experience of other countries which relied too heavily on oil for development and that the Bank's optimistic assertion of "a serious effort of transition towards democracy" is not shared by the US State Department.
Further information, including the April Bebedja Declaration, available from Korinna Horta, email@example.com
This text may be freely used providing the source is credited.
Published: 15 June 1999 , last edited: 29 June 2009
Viewings since posted: 4190
Climate Investment Funds Monitor 7: April 2013 25 April 2013
Working paper: The private sector and climate change adaptation: International Finance Corporation investments under the Pilot Program for Climate Resilience 24 April 2013
The UK's role in the World Bank and IMF: Department for International Development and HM Treasury 13 March 2013
The World Bank and industrial policy: Hands off or hands on? 6 December 2012
Climate Investment Funds Monitor 6: October 2012 26 October 2012