On November 9th, Rep. Heather Wilson co-sponsored legislation urging the World Bank to end financial assistance for the government of Iran. Both the U.N Security Council and the International Atomic Agency (IAEA) have found that the Iranian government is operating in violation of the U.N. Nuclear Non-Proliferation Treaty and report that the country has ignored its deadline to stop enriching uranium. The IAEA believes Iran continues to expand its nuclear program.
"It is absurd that as the United States and many other countries throughout the world are enforcing sanctions on Iran for their pursuit of uranium enrichment, that the World Bank would lend Iran money," says Wilson. "It is especially troubling when Iran exports nearly 2.6 million barrels of oil a day."
The United States is the largest investor in the World Bank having contributed $950 million in 2006, $940 million in 2007, and approving another $950 million for FY 2008.
The World Bank disbursed $220 million to Iran for FY2007 with more than $870 million pending disbursement over the next three years.
The money has been going directly to Bank Melli – the main provider of banking services for Iran's nuclear and ballistic missile programs. Generous World Bank funding, originating from the American taxpayer, is now freeing up Iranian resources to better fund their weapons program. Wilson wants to put a stop to the practice.
"I intend to work closely with my colleagues to end the support to the Iranian regime that will just funnel this money into their nuclear ambitions while forgetting about the needs of Iran's citizens," says Wilson. |