NCPA - National Center for Policy Analysis

U.S. Appears To Be Funding Terrorism Through World Bank

May 22, 2002

The World Bank wants to loan Iran nearly $1 billion. A U.S. report on global terrorism just released names Iran as the world's "most active" sponsor of terror. It aids, trains and sponsors such groups as Hezbollah and numerous Palestinian terror cells.

As the saying goes: "connect the dots."

  • The U.S. supplies 29 percent of the World Bank's capital -- more than any other country -- and has objected to the loan.
  • But the World Bank turned a deaf ear to our objections and intends to go ahead with the loan anyway.
  • The European Union, our closest ally, is wobbly on the issue -- and in recent trade talks the EU couldn't even bring itself to condemn Iran for its terrorist activities.
  • Finally, Iran is the world's fourth largest exporter of crude oil and it currently has $20 billion on hand.

The real problem with Iran is that it's run like a medieval kingdom, rather than a modern economy, observers say. And the World Bank money is more likely to prop up the regime of aging, corrupt extremists rather than bring about the promises of the 1979 revolution.

Source: Editorial, "Financing Terror?" Investor's Business Daily, May 22, 2002.


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