19 November 2003
of Funds 19 November 2003
Programme: December 1996 to
Total value of
oil exports: $65 billion.
income allocated to OFFP: $46 billion Balance allocated to
Gulf War reparations through a Compensation Fund (25 percent since
December 2000); UN administrative and operational costs (2.2 per
cent); weapons inspection programme, UNMOVIC and IAEA (0.8 per
$38 billion to 15 governorates in south/central Iraq
$8.1 billion to three governorates in northern Iraq.
Unutilised funds will be transferred to the Iraq Development Fund as
required under SCR 1483)
of $2.7 billion to June 2003, all allocated for the
procurement of humanitarian supplies.
of humanitarian goods delivered (and suppliers paid): $31
of goods currently in humanitarian pipeline: $8.2 billion
More than 86 per cent of these contracts signed by the previous
government have been prioritized in consultations between the UN,
Coalition Provisional Authority and Iraqi authorities; and about
91 per cent of the prioritized contracts have so far been
renegotiated by UN agencies. The money for these contracts remains
in the UN/Iraq account to be paid out after the UN has confirmed
the supplies were delivered to Iraq.
approved for projects to be implemented by UN agencies for
transferred from UN/Iraq account to the Development Fund for Iraq.
The first $1 billion was transferred on 28 May 2003. Further
transfers of $1 billion each were made at the end of October and
on 18 November 2003.
billion in uncommitted funds are in UN/Iraq Account.
note: Total expenditures do not reflect goods in transit or
fluctuating currency exchange rates. Resolution 986 apportioned 2.2%
of the oil revenue to cover UN administrative and operational costs
of the programme. As of 11 June 2003, some $400 million remained in
the 2.2% sub-account, of which $106.6 million will be needed during
the phasing-out / termination period; $16 million will be kept as
contingency, leaving $277.4 million for transfer to the Iraq
Development Fund. The transfer has not yet taken place.
information please contact: Ian Steele Tel. 212 963 1646 email: