DFA remits UN funds to National Treasury

ABS-CBN News

Posted at Feb 25 2011 09:58 AM | Updated as of Feb 25 2011 10:09 PM

MANILA, Philippines - The Department of Foreign Affairs (DFA) has started the process of remitting to the National Treasury all proceeds from the country’s participation in United Nations peacekeeping operations.

 

DFA officials told a joint hearing of the House Committees on National Defense and Security and on Appropriations that instructions have been given to the Philippine Mission to the United Nations and the Philippine Consulate General in New York to ensure the remittance to the National Treasury of all peacekeeping payments from the UN.

 

DFA Assistant Secretary Leslie Gatan of the Office of United Nations and Other International Organizations said the move is in line with earlier recommendations for the transfer of all UN peacekeeping funds to the National Treasury as called for under Executive Order 338.

 

Based on the new instructions conveyed by the Philippine Mission, the UN Department of Field Support will now have to remit all peacekeeping payments to the Bangko Sentral ng Pilipinas Account with the Federal Reserve Bank of New York, New York, for further credit to the Treasurer of the Philippines. The new payment instructions will take effect in the next payment cycle.

 

The Philippine Consulate General in New York has also been instructed to cause the immediate transfer to the National Treasury of the $3.3 million in accumulated payments and interests for the equipment used by Philippine peacekeepers serving in Haiti.

 

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 from 2000 to 2010.

 

Except for the $3.3 million that was 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 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.