World Bank To Resume Lending Money to Chad

The World Bank and the Chad government have reached an interim agreement in their dispute over oil revenue.

The World Bank will temporarily resume lending to Chad.

Last month Chad's leader said he wanted to use oil revenues to pay for weapons to use against rebels.

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.