The latest round of payments brings the total amount of compensation
disbursed by the Commission to USD 32.2 billion for more than 1.5 million
successful claims of individuals, corporations, Governments and international
organizations, states a news release.
Successful claims are paid with funds drawn from the UN Compensation Fund, which is funded by a percentage of the proceeds generated by the export sales of Iraqi petroleum and petroleum products.
The Geneva-based UNCC's Governing Council has identified six categories of claims: four are for individuals' claims, one for corporations and one for governments and international organizations, which also includes claims for environmental damage.
The Commission was established in 1991 as a subsidiary organ of the UN Security Council. It has received nearly 3 million claims, including from close to 100 governments for themselves, their nationals or their corporations. IBNS
