World Bank attacked

  1. Posted on Saturday 20 September 2008 - 17:50
    Mforgham
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    Solomon Tembang Mforgham, AfricaNews reporter in Limbe, Cameroon
    The World Bank has been attacked for withdrawing from the Chad, Cameroon pipeline project. A coalition of human rights and environmental Non-Governmental Organisations have accused it of bad faith by its recent withdrawal from the 4 billion dollars oil pipeline project that runs from Chad to Cameroon.
    chad-Cameroon pipeline
    The coalition is made up of U.S.-based Environmental Defense Fund, the Chadian Association for Human Rights (ATPDH) and two Cameroon civil society groups, the Centre for Environment and Development (CED) and Network to Fight against Hunger (RELUFA).

    "The project's outcome is disastrous. In the name of fighting poverty, it has rather contributed to impoverishing Chad's people and adding a new member to the petro-dictators' club,” a statement issued by the coalition said.

    The World Bank last week announced its withdrawal from the pipeline project, one of its biggest investments in Africa. It accused the Chadian president of failing to comply with agreed commitments to set aside a chunk of its oil revenues for local communities, health and education.

    However, Chad played down the bank’s pullout, saying its oil output was unaffected and that non-oil cooperation would continue. "The bank withdraws from this project without too much loss," the rights coalition said in its criticism, noting that Chad this month prepaid to the lender the outstanding balance of $65.7 million under the $140 million loan deal.

    The coalition noted that the quality of life of the people of Chad and Cameroon, living along the length of the 1,000 km (620-mile) pipeline on its route to the Atlantic coast, had worsened. “Only the quality of life of Chadian president, Idriss Deby, and of the consortium led by Exxon Mobil has improved,” it said.

    It should be noted that the pipeline started pumping crude oil from landlocked Chad in 2003, carries 170,000 barrels per day and continues to operate despite the World Bank pullout.

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