World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

UN Transfers $500 Million In Oil Revenues to Iraq


UN Transfers $500 Million In Oil Revenues To Development Fund For Iraq

The United Nations today reported transferring $500 million in surplus money from its now-defunct Oil-for-Food programme to the Development Fund for Iraq (DFI).

The transfer comes as part of a process that began in response to Security Council 1483, adopted in May 2003.

That measure, in part, underlined that the DFI “shall be used in a transparent manner to meet the humanitarian needs of the Iraqi people, for the economic reconstruction and repair of Iraq's infrastructure, for the continued disarmament of Iraq, and for the costs of Iraqi civilian administration,” as well as for other purposes benefiting the Iraqi people.

To date, a total of $8.1 billion has been transferred.

© Scoop Media

 
 
 
World Headlines

 

North Korea: NZ Denounces Missile Test

Foreign Affairs Minister Winston Peters has denounced North Korea’s latest ballistic missile test. The test, which took place this morning, is North Korea’s third test flight of an inter-continental ballistic missile. More>>

ALSO:

Gordon Campbell: Zimbabwe - Meet The New Bosses

At 75, Mnangagwa is not exactly what you’d call a new broom. As many observers have pointed out, his track record has been one of unswerving dedication to Mugabe ever since the days of anti-colonial insurgency... To these guys, things had to change in Zimbabwe, so that things could remain the same. More>>

ALSO: