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World Bank Demands from Exxon Compensate Land For Chad Farmers

The World Bank has told a consortium led by Exxon-Mobil Corp. to properly compensate farmers in southern Chad for land

The World Bank has told a consortium led by Exxon-Mobil Corp. to properly compensate farmers in southern Chad for land, which the company has acquired as it expands its search for oil in the Doba basin.

The bank's private-sector lender, the International Finance Corp., told Exxon to reassess its compensation plans after a independent report found the expansion of wells is affecting the livelihoods of families who live off the land.

Exxon operates the Chad-Cameroon oil pipeline development project, including Chevron Corp. and Malaysia's state-run Petronas, which the IFC helped to finance on condition that oil revenues would benefit the poor.