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Chad oil deal failed

The World Bank has cancelled an oil pipeline deal with Chad

Chad oil deal failed

The pipeline was seen as a test case for how Africa's oil wealth could benefit the poor if spent properly.
"Regrettably, it became evident that the arrangements that had underpinned the bank's involvement in the Chad-Cameroon pipeline project were not working," said Michel Wormser, the bank's director of operations for Africa.
"The bank therefore concluded that it could not continue to support this project under these circumstances."
But he said future cooperation was possible "if the government of Chad wishes to focus its energies on a programme to support inclusive development to overcome poverty, assist displaced people and improve governance".

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