Video of Congressman Sherman in Action
Washington, D.C. - Congressman Brad Sherman had a brief conversation with President Obama yesterday evening and urged the President to make sure Iran does not benefit from decisions made at the G-20 meeting. That meeting is expected to approve additional resources to the World Bank, IMF and related international financial institutions. In his conversation with President Obama, Sherman described how the World Bank was currently aiding Iran’s government.
Today, Sherman sent a follow-up letter to the President in which he noted that the World Bank approved nearly $1.4 billion in nine separate loan packages to Tehran from 2000-2005, and that these funds are still being disbursed. Some $600 million of the funds approved for Iran remain undisbursed. It is critical that, as part of the overall effort to isolate Iran, the Obama Administration use the G-20 summit to obtain a commitment to halt World Bank disbursements to Iran and prevent new assistance by the World Bank, IMF or other institutions.
“We cannot allow the G-20 package to become a lifeline to the world’s most dangerous regime,” Sherman said. “Given the World Bank’s record, we need to take a tough line at the G-20 – no cash is disbursed to Iran – or we cannot join in efforts to reform or bolster the World Bank and its sister institutions.”
Sherman noted that, as a strong supporter of foreign aid, the provision of assistance to Iran would make it impossible to support elements of the G-20 package which need approval in Congress.
Sherman is the Chairman of the House Foreign Affairs Committee Subcommittee on Terrorism, Nonproliferation, and Trade.
A copy of Sherman's letter to the President is attached.
