Top Cardinal Claims Responsibility for Vatican Loan Scandal, Does Not Mention Link to Pope Francis, by Paul Smeaton

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Cardinal Pietro Parolin,

By Paul Smeaton, LifeSiteNews, November 22, 2019

Cardinal Pietro Parolin, the Vatican Secretary of State, has informed Catholic media that he is responsible for arranging both a 50 million Euro loan to help the Vatican purchase a scandal-ridden Italian hospital and for requesting a subsequent $25 million grant from a US-based Catholic foundation in order to cover that loan. He made no reference, however, to evidence that the request for the $25 million grant was originally linked to a request coming from Pope Francis.

Parolin confirmed that he had personally arranged the 50 million Euro loan from APSA, the Vatican’s central bank, which was used to help purchase the “Istituto Dermopatico dell’Immacolata” (IDI) hospital – a bankrupt hospital in Rome with a history of fraudulent financial activity, including activity linked to the Vatican.

In order to help cover the loan, a request was made by the Vatican for a grant of 25 million USD dollar from the US-based Papal Foundation. The Papal Foundation is funded by lay members who pledge “to give $1 million over the course of no more than ten years with a minimum donation of $100,000 per year.”  Those monies are invested in order to make a perpetual fund to assist the Church. Ordinarily the Papal Foundation issues grants of no more than $200,000 to organizations in the developing world.

The $25 million grant was initially approved by the Foundation and $8 million was sent to Rome in July 2017. A further $5 million was sent in January 2018. The unusual grant was strenuously objected to by lay members of the Foundation with some resigning from the Foundation, including the chairman of the Foundation’s audit committee. It was eventually decided in January 2018 that no more of the outstanding amount of the grant would be sent from the Foundation to Rome. ….

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