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Annan approves Iraqi plan to distribute $5 billion under oil-for-food programme

Annan approves Iraqi plan to distribute $5 billion under oil-for-food programme

Secretary-General Kofi Annan has approved the distribution plan for the latest phase of the United Nations humanitarian programme for Iraq, which allows Baghdad to use a portion of the revenue generated by oil sales to purchase food and other relief supplies.

The plan submitted Monday by the Government of Iraq contains a humanitarian budget of $4.93 billion, and includes allocations of almost $1.27 billion for food, $359.2 million for fixing the water supply and sanitation systems and more than $272 million for electrical power supply.

Some $143 million is dedicated for the medical sector and a special allocation of almost $344 million is set aside for especially vulnerable groups. The plan covers the current period from 5 December to 3 June.

Meanwhile, Iraqi exports under the so-called oil-for-food programme totalled 13.1 million barrels for the week ending 3 January. The total value of shipments for the week was $369 million at current prices and exchange rates, which was at an average price of $26.90 a barrel.