Bankrolling Iran

Both the U.N. Security Council and the International Atomic Energy Agency have found Iran in breach of its obligations under the nuclear Non-Proliferation Treaty. The IAEA reports that Iran ignored the Security Council's February deadline to stop enriching uranium and has even expanded its nuclear program.

As Iran's Atomic Energy Organization moves toward its announced goal of operating 50,000 uranium enrichment centrifuges in Natanz, the World Bank is funding nine government projects in Iran totaling $1.35 billion -- one of which operates in Isfahan, where Iran's nuclear program is headquartered.

While the World Bank is part of the U.N. family, the bank's board is disconnected from the policies of key U.N. agencies -- especially the Security Council and the IAEA. The United States remains the top investor in the World Bank, contributing $950 million in 2006 and $940 million this year. In June the House of Representatives approved another $950 million. Meanwhile, the bank will disburse $220 million to Iran this year, with more than $870 million in the pipeline for 2008, 2009 and 2010.

Presidents Carter, Reagan, Bush, Clinton and Bush all certified that Iran is a state sponsor of terrorism. The Treasury Department's Office of Terrorism and Financial Intelligence spends considerable effort locating Iranian assets to freeze.