Chad activists say oil revenues fail to help poor (Reuters)

[derby378]

Activists accused the World Bank of failing to ensure that Chad invests newfound oil wealth in development, saying the money had only enriched foreign firms and political elites in one of the world's poorest countries.

The World Bank helped set up what it calls unprecedented safeguards to manage the earnings in Africa's newest oil producer, a test case of whether petrodollars can fight poverty on the continent instead of fuelling conflict and corruption.

But campaigners say they have seen no sign of promised schools and roads since oil began flowing in 2003 via a pipeline through Cameroon built by a consortium led by U.S.-based Exxon Mobil and partly funded by the World Bank.

...

"I want to tell the World Bank that all the publicity they made around this project has amounted to nothing," said Urbain Moyombaye, head of a group representing the Miandoum area in the southern oil exploiting region of Doba.

"The project is a complete failure. People continue to live in total poverty," he told Reuters, speaking after meeting Cameroonian activists in the Cameroon capital Yaounde last week.

http://za.today.reuters.com/news/newsArticle.aspx?type=topNews&storyID=2005-09-04T143234Z_01_BAN452224_RTRIDST_0_OZATP-CHAD-OIL-20050904.XML

[JoFerret]

1. Duh! They sure didn't help them in the US Gulf coast either

....all those profits from the oil and gambling industries...who has them?

[skooooo]

2. Hmmm...I'm starting to notice a trend here.

[derby378]

3. And remember, it's WOLFOWITZ'S World Bank now

Too bad it couldn't be Bono in the driver's seat.

[Trillo]

4. In current organizations, those who seem to rise to the top

are the best BSers. They can talk, talk, talk and 'convince' others of their plans and sincerity.

One mustn't forget its all BS. The best liars rise to the top.

[NVMojo]

5. this type of crap really pisses me off!

[bribri16]

6. "Confessions of an Economic Hit Man" Wolfowitz? n/t