Chad: World Bank concerned over bid to gut oil revenue law

The World Bank has “serious concerns” about the Chad government’s plan to do away with a special fund that safeguards petrodollars for future generations, the institution said. The trust fund was among innovative socio-economic measures required by the World Bank in return for financing part of a vast pipeline from Chad to the Atlantic Ocean off Cameroon. But the Chad government says it needs to tap into the petrodollars now to tackle a financial crisis and bolster security in the country.