HP-1341: Treasury Targets Hizballah Construction Company



	January 6, 2009 HP-1341 Treasury Targets Hizballah Construction Company Washington, DC--The U.S. Department of the Treasury today designated the Waad Project, a Hizballah-run construction firm, under Executive Order 13224 (E.O. 13224), which targets terrorists and those providing support to terrorists or acts of terrorism. "The Waad Project is another example of Hizballah's use of deceptive tactics to support its military and terrorist apparatus," said Under Secretary for Terrorism and Financial Intelligence Stuart Levey. Hizballah established the Waad Project, in part, because Jihad al-Bina--Hizballah's main construction company--had difficulty receiving funds from donors following its designation under E.O. 13224 by the Treasury Department on February 20, 2007. Hizballah Secretary General Hasan Nasrallah publicly endorsed the Waad Project in May 2007. Hizballah has used the Waad Project to rebuild its command headquarters in Beirut's southern suburbs, which was destroyed in the summer 2006 conflict with Israel. The Waad Project has built Hizballah's underground weapons storage facilities and parts of the group's military infrastructure in Lebanon. Additionally, the Waad Project's website has provided telephone numbers for those wishing to donate aid to Hizballah, Jihad al-Bina, and the Hizballah-controlled Martyrs Association, an organization named as a Specially Designated Global Terrorist in July 2007 for providing financial support to Hizballah. The Waad Project has tried to hide its affiliation with Hizballah, just as Jihad al-Bina used deceptive means to seek funding projects from international development organizations. Additionally, the general manager of the Waad Project has stated that donors to the Waad Project have wished to remain anonymous because Hizballah is a terrorist organization and they preferred not to be identified due to the risks of dealings with a terrorist group. Under E.O. 13224, any assets held by the Waad Project under U.S. jurisdiction are frozen and U.S. persons are prohibited from engaging in any transactions with the Waad Project. -30- Identifier Information WAAD PROJECT AKAs: Wa'id Company Wa'ed Organization Waad Waed Wa'd Project Al-Waad Al-Sadiq Waad Company Waad for Rebuilding the Southern Suburb `Mashura Waad Laadat Al-Aamar Waad Project for Reconstruction Wa'ad As Sadiq Telephone No. 1 009613679153 Telephone No. 2 009613380223 Telephone No. 3 03889402 Telephone No. 4 03669916 Location No. 1 Harat Hurayk, Lebanon Location No. 2 Beirut, Lebanon -30-