The Chadian government is bound by unique legislation aimed at ensuring that the revenue from the crude oil in its Doba fields that started being exploited two years ago is spent properly, writes the World Bank press review Monday.
To try to sidestep concerns over corruption and human rights issues, the government set up an oil revenue watchdog body and passed a law stipulating that 80 percent of the petro-dollars must be allocated to development projects in health, education, agriculture and infrastructure.
According to World Bank Representative Noel Tshiani, Chads growth rate soared from 9,4 percent in 2001 to 38,5 percent in 2004, while the watchdog bodys chairman, Lamana Abdoulaye, says it has directed more than 50 million US dollar (over 300 mio. DKR) into vital projects.
Kilde: www.worldbank.org
