[Deuda-QdQ] World Bank pulls out of Chad-Cameroon pipeline

Jue Sep 11 09:06:39 CEST 2008

-------- Mensaje original --------
Asunto: 	[cj-bangkok] World Bank pulls out of Chad-Cameroon pipeline
Fecha: 	Wed, 10 Sep 2008 16:50:57 -0400
De: 	Janet Redman <janet en ips-dc.org>
Para: 	<ccjustice en seen.org>
CC: 	<cj-bangkok en lists.riseup.net>

Hey folks - Interesting development that the World Bank has pulled out
of Chad-Cameroon pipeline project based on the fact that insufficient
resources have been flowing to poverty reduction. I wonder what (if any)
implications this has for other fossil fuel projects in which the Bank
is already invested, and those that are being planned, particularly
under the guise of new climate funds.

As one colleague noted when I congratulated her on the Bank's pulling
out of the project, the Bank leaves behind a disaster on the ground that
they have now effectively washed their hands of... unless, of
course, Chad wants to take out another loan for another development
project. Not necessarily something to celebrate, I suppose.

What do you all make of this?

Hope you're all well,
Janet

   World Bank Statement on Chad-Cameroon Pipeline

*Available in: *Français
<http://web.worldbank.org/WBSITE/EXTERNAL/ACCUEILEXTN/NEWSFRENCH/0,,contentMDK:21894807%7EpagePK:64257043%7EpiPK:437376%7EtheSitePK:1074931,00.html>

*Press Release No:*2009/073/AFR

*Contacts:*

/In Washington:/ Carl Hanlon (202) 473-8087

chanlon en worldbank.org <mailto:chanlon en worldbank.org>;

In Paris: Rachel Winter Jones + 33-1-4069-3052

rjones1 en worldbank.org <mailto:rjones1 en worldbank.org>

*Washington**, September 9, 2008 –* In 2001 the World Bank provided
financing to Chad to support development of the Chad-Cameroon pipeline
with a specific agreement that substantial oil revenues would be
directed to poverty reduction.

Over the years, Chad failed to comply with key requirements of this
agreement.  A new agreement was signed in 2006, but once again the
government did not allocate adequate resources critical for poverty
reduction in – education, health, infrastructure, rural development and
governance. Regrettably, it became evident that the arrangements that
had underpinned the Bank’s involvement in the Chad/Cameroon pipeline
project were not working.  The Bank therefore concluded that it could
not continue to support this project under these circumstances.

We conveyed our concerns in discussions with the Government of Chad,
including through our development partners, that failure to comply
undermines the basis for the World Bank’s involvement in the project.
During discussions held with the Government of Chad in N’Djamena the
week of August 25, 2008, the Chadian Government agreed to prepay the
World Bank for pipeline related financing.

Chad has now fully prepaid both the IBRD and IDA components of the loan,
as of September 5, 2008.

While the payment ends the Bank's involvement in the pipeline project,
the Bank has explained to the Government of Chad that it recognizes the
country's significant development problems, which have been exacerbated
by regional instability and the flight of refugees.  If the Government
of Chad wishes to focus its energies on a program to support inclusive
development to overcome poverty, assist displaced people, and improve
governance and effectiveness to achieve results, the World Bank is
willing to work with Chad to assist.

To this end, the Bank welcomes the upcoming visit of the Prime Minister
of Chad to Washington, planned for the end of September.  We will
discuss further the future of the relationship between Chad and the
Bank, and the cooperation and support we could provide for rebuilding a
development program that supports the poorest people in the country.

###

http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:21894530~pagePK:34370~piPK:34424~theSitePK:4607,00.html

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