Iranian parliament research center questions benefits of WB membership

Iran Materials 11 January 2012 15:00 (UTC +04:00)

Azerbaijan, Baku, Jan. 11 Trend M. Moezzi

The Iranian parliament's research center has recommended that the country's membership in the World Bank be reevaluated, the Jahane Sanat newspaper reported.

The Majlis Research Center's report states that although the World Bank's responsibility to reduce poverty means it must offer loans to poor countries, the Bank actually helps rich nations.

The report states: "Until now Iran hasn't made use of the Bank because the Bank is designed in a way that powerful nations' influence directs funds to countries who share interests with the United States or other powerful industrial nations; in the meantime Iran has participated in all Bank meetings and not only pays travel and housing expenses for missions to the Bank's headquarters, it pays administrative and personnel costs for employees representing Iran at the World Bank or at the Ministry of Economy and Finance. The Majlis Research Center recommends that cooperation with this bank be fundamentally reevaluated."