Friday, February 15, 2008

2 Congressmen Probe Iranian Links to U.S.-Supported World Bank Fund

WASHINGTON — Two congressmen have asked the Justice Department to review of U.S. Treasury-supported fund being used to underwrite an Iranian plastic-making operation.
The money transfer appears to contradict a 13-year-old Clinton administration executive order barring financial support of Iranian petroleum resource development, Reps. Mark Kirk, R-Ill., and Steven Rothman, D-N.J., wrote in a letter sent Friday to Attorney General Michael Mukasey.
The letter focuses on an Iranian government project that is being aided by the World Bank's Multilateral Investment Guarantee Agency — MIGA — an organization that sets aside money in order to insure major development projects. The insurance allows those projects to leverage other financial support.
The World Bank agency approved a $122 million guarantee for the Mehr Petrochemical Company to "produce polyoelfins, including high-density polyethylene."
Mehr Petrochemical is a subsidiary of Iran's National Petrochemical Company, the congressmen say, and the World Bank agency is being supported by U.S. taxpayer money: $1.3 million that the Treasury Department transferred during the 2006 fiscal year.

1 comment:

Anonymous said...

Should be than accepted as a fact, that the World Bank IS an US instittution? For that, it's whole declared purpose is a lie and shame. If so, they deserve, what they get, by propping up US/zionist interests,and cloathing them in the bame of development and democracy. Anyway, what way would humanity be served by preventing an other culture, even, if it"s interests are not our own, to develop and prosper? Where are than the great values always propagandised by the US? What would make the US any better than anyone else? Who is speaking to who?