DFA starts remitting UN payments to gov’t treasury By Michaela P. del Callar 02/26/2011

DFA starts remitting UN payments to gov’t treasury

By Michaela P. del Callar 02/26/2011
The Department of Foreign Affairs (DFA) said it has begun the process of remitting to the National Treasury all proceeds from the country’s participation in the United Nations peacekeeping operations in their supervision.

From 2000 to 2010, the DFA said the UN has remitted a total of $66.6 million to the Philippines to cover the deployment of troops and equipment in support of peacekeeping operations in East Timor, Liberia and Haiti. Of this amount, $3.3 million are in the custody of the DFA.

Except for the $3.3 million temporarily deposited in a government account in New York, the DFA said “all the proceeds were remitted by the UN to the trust accounts of the Armed Forces of the Philippines with the Land Bank of the Philippines from 2000 to 2003 and the United Coconut Planters Bank from 2003 to present.”

“The actions taken by the DFA in connection with the UN peacekeeping payments are consistent with its desire to ensure that proper safeguards are in place to allow the Philippines to derive maximum benefit from its participation in UN peacekeeping operations,” the DFA said in a statement..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/nation/20110226nat2.html