Annan Approves New Distribution Plan for 'Oil-for-food' Program

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Last updated at: (Beijing Time) Wednesday, June 19, 2002

Annan Approves New Distribution Plan for 'Oil-for-food' Program

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U.N. Secretary-General KofiAnnan on Tuesday approved the distribution plan for the latest phase of the U.N. "oil-for-food" program for Iraq, the U.N. Officeof the Iraq Program (OIP) said in a press release.

The plan, as submitted by Iraq, is based on a foreseen budget of over 5.08 billion U.S. dollars for the purchase of humanitariansupplies and equipment in 25 sectors, 10 of which are new, according to the U.N. office monitoring the program which permits Baghdad to use a portion of its petroleum revenues to buy humanitarian supplies.

As for Iraqi oil exports last week, the office said volume remained sluggish. "A total of 3.1 million barrels of oil were loaded, netting an estimated 67 million dollars in revenue," it said.

U.N. spokesman Fred Eckhard said in a press briefing that as long as the volume of oil sales remained low, there was less moneygoing into the humanitarian efforts and that the programme would be hurt when the oil revenue was below target.

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