December 26, 2009

U.N. Security Council resolution to extend its protection to Iraqi funds will keep them away from “big financial corruption,” the deputy head of the Iraqi parliament’s economic committee said on Tuesday. “The Funds will pass through an international, transparent monitoring process for both revenues and spending,” Lawmaker Yunadim Kena told Aswat al-Iraq news agency.

U.N. Security Council has renewed for another year a development fund set up immediately after the U.S.-led invasion of Iraq in 2003 in order to meet the country’s humanitarian needs, economic reconstruction, and infrastructure repairs, according to an official statement published on the web site of the U.N. News Centre.

Kena said that he appreciates the Security Council resolution, and explained that Iraq is in need to such decision to protect its funds.

Source: Aswat al-Iraq