The United Nations Iraq account – ESB – consists of two accounts, the original US dollar account and a new euro sub-account which was established in November 2000 at the request of the Iraqi Government.
As of 14 March 2001, the total balance in the United Nations Iraq dollar account stood at approximately US$11.2 billion. Approximately US$7.8 billion of that amount has already been allocated for humanitarian contracts, US$459 million relates to letters of credit not yet approved or held pending by the Iraq authorities, US$34 million has been allocated to cover transportation cost and US$27 million is to be distributed to other funds in accordance with Security Council Resolution 986. This leaves a sum of US$2.9 billion still available in the account for allocation for humanitarian assistance.
For the euro account the equivalent sums are as follows: a total balance as of 14 March 2001 of 1.7 billion, of which 5.6 million is to be distributed to other funds in accordance with Security Council Resolution 986, leaving a balance of 1.59 billion available for applications for humanitarian assistance.