UN Compensation Commission makes funds available

The United Nations Compensation Commission has made $481,224,655.70 available for claims resulting from the Iraqi occupation of Kuwait, the first payments to be made in the second phase of the process.

The funds are available to 73 governments to distribute to 167,730 claimants.

The committee is working to complete payment to individuals who were forced to leave Kuwait and individuals claiming up to $100,000 by the end of 2002. Payments involving claims of death or personal injury have already been completed.

Payments to individuals claiming over $100,000 in losses, corporate entities and governments are being made in an installment of $25,000 (or less if the claim is less), followed by a payment of $75,000 (or less if the claim is less).

The total funds made available according to the program so far have reached $3,634,427,770.30, funded by 30% of Iraqi petroleum revenues within the oil-for-food program.