The project selected is the world Bank, Chad-Cameroon oil pipeline project. This is one of the largest world Bank sponsored project in Africa.
In the year 2000 the world bank and the European investment bank approved the estimated $4.1 billion project. The Chad-Cameroon oil pipeline project ownership is comprised of a three company oil consortium which include; Exxon/mobile with shares of 40%,Petronas Malaysia with share of 35%, and Chevron with 25%. The government of Chad and Cameroon combine hold only 3% stake in the project.
This companies were given the right to operate the oil pipeline for a period of 28 years after completion to recover their investment.
The reasons put forth for this project was to use funds from the oil project to…show more content… Instead worker were brought from different parts to work for the project. The percentage of shares attributed to the two government was only 3 % and it was equally agreed that 5% of the funds from oil revenue should be reinvested in the villages affected by this project but non of this ever happen. Most of the above listed negative aspect of Chad-Cameroon pipeline project could have been avoided provided the project took into consideration the plight of the indigenous population that were displaced.
The world bank and it partners should have done an impact assessment before lunching the project. The Population should have been compensated well and relocated to areas where they could do their farming which is what they know best.
Instead of giving the money generated from the project to the Chad and Cameroon government. The world bank should have program the money in such a way that there is accountability. They should have ask for the governments of both countries to identify projects to be finance and control by the World Bank, rather than giving money to government which ends up in private
