UNITED NATIONS COMPENSATION COMMISSION PAYS OUT US$1,038,375,281 TO GOVERNMENT OF KUWAIT

Today, the United Nations Compensation Commission (UNCC) made available a total of $1,038,375,281 to the Government of the State of Kuwait for distribution to eight successful claimants. Payment is being made in respect of 4 claims in category E (claims of corporations and public sector enterprises) and 4 claims in category F (claims of Governments and international organizations, including environmental claims).

Pursuant to UNCC Governing Council decision 267 (S/AC.26/Dec.267 (2009)), the remaining category E and F claims, all awarded to Kuwait, are paid on a quarterly basis in rounds of $10 million, in the order in which they have been approved.

With today’s payment, the outstanding balances in respect of two of the remaining awards were paid in full, leaving approximately $18 billion outstanding to six compensation awards.

To date, the Compensation Commission has made available $34.3 billion to over 100 Governments and international organizations for distribution to 1.5 million successful claimants in all categories.

Successful claims are paid with funds drawn from the United Nations Compensation Fund, which is funded by a percentage of the proceeds generated by the export sales of Iraqi petroleum and petroleum products. This percentage was set at 5 per cent under Security Council resolution 1483 (2003), and reaffirmed in a number of subsequent resolutions, most recently under Security Council resolution 1956 (2010).

Further information about the Commission, including the text of Governing Council decisions, can be found on the United Nations Compensation Commission website located at www.uncc.ch.

For use of the information media; not an official record

UNCC11/008E