Iraq: Development Fund

House of Lords written question – answered at on 10 October 2005.

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Photo of Lord Triesman Lord Triesman Parliamentary Under-Secretary, Foreign & Commonwealth Office, Parliamentary Under-Secretary (Foreign and Commonwealth Office)

The latest report by the Independent Advisory and Monitoring Board (IAMB) is based on audit reports by external auditor (KPMG) of activities relating to the Development Fund of Iraq (DFI), covering the period 29 June 2004 to 31 December 2004.

Under United Nations Security Council Resolution 1546, Iraq has sole control over its financial assets and the DFI and how they are managed. The IAMB continues to monitor Iraqi management of the DFI to ensure transparency and that DFI funds are used to benefit the Iraqi people.

The UK continues to study the detailed points made in the KPMG report. We are continuing our support to improve transparency and accountability of public financial management in Iraq through Department for International Development-funded technical assistance to the Ministry of Finance.

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