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The World Bank guarantees business with the Islamic Republic

 
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espandyar



Joined: 15 Apr 2004
Posts: 236

PostPosted: Fri Jun 22, 2007 7:01 am    Post subject: The World Bank guarantees business with the Islamic Republic Reply with quote

A statement issued by Multilateral Investment Guarantee Agency MIGA- a member of the World Bank group- states a $5 million guarantee to Cesur Packaging Corporation. Cesur Packaging of Turkey owns 48 percent of the company, while investors of dual Turkish and Iranian nationality own the remaining shares. The guarantee protects against the risk of war and civil disturbance, for a period up to 10 years.

Islamic Republic economical procedures are very similar to Mafia organizations. Individuals doing business at high level have clear connections to the Islamic Regime officials and dues must be paid accordingly. Entrepreneurship in terms of western perspective is non existence. High level connections are the access key to high level business.

Various reports also indicate that the Islamic republic uses various front organizations to transfer money for the nuclear and terrorist activities.

The majority owners of the Cesur Packaging Company should be subjects for further investigations to determine their possible link to the Islamic regime and terrorism.

The World Bank Group consists of IBRD, IDA, IFC and MIGA. In general IBRD and IDA make loans for public sector projects, and IFC and MIGA promote private sector investment.

Further, MIGA has issued $122 million in guarantee coverage for a joint venture petrochemical project. This is the first guarantee ever for a project in Iran. The guarantee is for 15 years against the risk of breach of contract for both the equity and the shareholder loan investments.

One of the companies involved in the project is Mehr Petrochemical Company (JV).
Mehr Petrochemical Company is a joint venture between Islamic Republicís National Petrochemical Company (NPC) which is owned by the government of the Islamic Republic and three other companies, two from Thailand and one from Japan. Islamic Republicís National Petrochemical Company (NPCI) owns 40% of the stakes.

The World Bank- which MIGA is part of- is technically part of the United Nations.

The United Nations Security Council has previously imposed sanctions on Islamic Republic arm sales and expanding the freeze on assets. This is while another body guarantees business with the same regime.

These are the kind of opportunities that the Islamic Republic cheerfully uses while ironically killing UN troops in Afghanistan.

Mani Aryamand
Party Secretary Marzeporgohar Party
Iranians for a secular Republic
www.marzeporgohar.org
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Marze Por Gohar Party
Iranians for a Secuar Republic
ttp://www.marzeporgohar.org/
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