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N'DJAMENA, Chad (AP) - The World Bank has reached a preliminary deal with Chad to release some of the country's frozen oil money, an important step toward resolving a dispute over how the impoverished nation spends its newfound wealth, officials said.
The World Bank helped finance Chad's oil program under demands that the central African country commit most of the money to development. The bank froze hundreds of millions of dollars in oil revenue and aid in January after Chad's parliament voted to allow more money to go toward the general budget — a decision many believe was meant to secure funds for weapons in the wake of a growing rebellion.
"It is a stage towards a final agreement. What is important is that there is no longer a problem with the World Bank," Foreign Affairs Minister Ahmad Allam-mi told The Associated Press Thursday.
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