Security Council welcomes Iraq’s assumption of oversight over development fund

30 June 2011 –
The Security Council today welcomed the Iraqi Government’s assumption of full autonomy, with effect from tomorrow, over the proceeds of a development fund set up after the 2003 United States-led invasion to meet the country’s humanitarian needs, economic reconstruction and infrastructure repairs.

In a press statement, the Council welcomed the Government’s establishment of a successor arrangement for the transition of the Development Fund for Iraq, in line with the United Nations body’s resolution 1956, adopted last year.

“The members of the Security Council noted that, in this regard, oversight of the full proceeds from the Development Fund for Iraq has been transferred from the International Advisory and Monitoring Board to the Government of Iraq’s Committee of Financial Experts, which will exercise authority in accordance with its terms of reference approved by Iraq’s Council of Ministers,” according to the statement, read out by Ambassador Alfred Moungara Moussotsi of Gabon, which holds the Council’s presidency in June.

The Council reiterated its appreciation of the ongoing efforts and commitment of the Iraqi Government to ensure that oil revenues are used in the interest of the country’s people, and to ensure that transition arrangements remain consistent with the constitution and with international best practices with regard to transparency, accountability and integrity.

“The members of the Security Council underscored the importance of Iraq’s continued compliance with relevant [Security Council] resolutions,” the statement added.


The Council set up the trust fund in May 2003 so that oil and other revenues could be paid into it, to be disbursed at the discretion of the then US-led Provisional Authority for humanitarian and economic reconstruction, replacing the previous oil-for-food programme that allowed the sanctions-bound government of Saddam Hussein to use some oil revenues for the monitored purchase of humanitarian supplies.

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The following Security Council press statement on Iraq/Kuwait was issued today by Council President Noël Nelson Messone ( Gabon):

The members of the Security Council received a briefing from Ambassador Gennady Tarasov, the Secretary-General’s High-Level Coordinator, on the thirty-first report of the Secretary-General, in accordance with paragraph 14 of Security Council resolution 1284 (1999).

The members of the Security Council appreciated the efforts of Ambassador Tarasov and the important work of the International Committee of the Red Cross, the Tripartite Commission and its Technical Subcommittee during the reporting period.

The members of the Security Council welcomed the continued cooperation by the Governments of Iraq and Kuwait, and their high-level commitments to full implementation of all Iraqi obligations to Kuwait under the relevant resolutions, in addition to the commitments given by the Iraqi Government to improve relations with Kuwait. Nevertheless, the members of the Security Council stressed the need to fulfil these commitments, specifically finding Kuwaiti or third-country nationals, property and archives. The members of the Security Council once again expressed their deepest sympathy and condolences to the families of those involved.

The members of the Security Council welcomed active participation by the Governments of Iraq and Kuwait in the efforts undertaken in the framework of the Technical Subcommittee to develop an effective functional mechanism for the search for missing persons, including the Technical Subcommittee’s exploratory mission to Nassiriyah and the ongoing mission to Khamisiyah in southern Iraq.

The members of the Security Council noted that limited progress has been made on clarifying the fate of the Kuwaiti national archives. The members of the Security Council welcomed the commitment by the Prime Minister of Iraq to establish an Inter-Ministerial Committee to lead and coordinate efforts with regard to the Kuwaiti national archives and other properties. The members of the Security Council urged the Government of Iraq to establish without further delay an effective national body for this task and report the results to the United Nations.

The members of the Security Council called for Iraq and Kuwait to continue to act in the spirit of the confidence- and cooperation-building process, which should contribute to the further strengthening of their good-neighbourly relations and enhancing of regional stability.

The members of the Security Council supported the Secretary-General’s recommendation to extend the financing of the activities of the High-Level Coordinator for a further period of six months in order to build on the present momentum towards implementation of paragraph 14 of Security Council resolution 1284 (1999).

The members of the Security Council expressed their willingness to consider this matter in the context of their review of the report by the Secretary-General, pursuant to paragraph 5 of resolution 1859 (2008).
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