Saturday 15 December 2001
A 1,070-kilometre oil pipeline project in Chad and Cameroon is expected to fetch them us $2 billion and us $500 billion respectively, over the project's 25-year lifespan. However, environmental and human rights groups have offered strong opposition to the project and asked for a moratorium on World Bank financing for oil and gas projects. On the other hand, a senior official at the World Bank's International Finance Corporation, says the project has set new standards for ethical financing in difficult environments.
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