Trade - Chad

Trade – Chad

•In 2000, a $4.2 billion “Revenue Management Project” headed by the World Bank and Exxon Mobil to build a 650 mile pipeline from Chad to the coast

•70% of revenue would go toward poverty reduction programs.

•10% of revenue would go toward “Future Generations Fund”

•”International Advisor Group” in London would monitor the funds

 

Once the oil started to flow:

•The World Bank lost leverage over Chads government

•Idriss Deby (former rebel lord) stopped cooperating by 2005 and rewrote the constitution to serve indefinitely as President

•Most of the oil windfall was stolen but its impossible to say how much

•Revenue perpuated conflict with rebels in the north and east of Chad

•Still no electricity outside the capital and living conditions are as bad as ever