Oil-for-food orders rise to almost $1,000 million

20 May 2003
The total value of priority items from the UN oil-for-food humanitarian pipeline that can be shipped to Iraq has risen to $949 million, the UN announced on 20 May. This is more than double the figure approved before the UN Security Council voted last month to extend the UN's authority over the programme until 3 June.

The programme was temporarily halted on 17 March after the withdrawal of all UN staff from Iraq on the eve of hostilities. The Security Council adopted a resolution on 28 March giving the UN more authority to administer the operation until 12 May. The authority included prioritising deliveries and finding new entry ports to speed shipment. The three week extension was approved at the end of April

The UN Office of the Iraq Programme (OIP), which oversees the programme under which Baghdad was allowed to use part of its oil revenues to buy food and humanitarian supplies, said on 20 May that most of the supplies were for food ($463 million), electricity ($239 million), agriculture ($119 million) and health ($88 million).

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.