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The International Advisory and Monitoring Board (IAMB) is an audit oversight body for the Development Fund for Iraq (DFI).
The DFI was established pursuant to United Nations Security Council Resolution 1483 and holds the proceeds of petroleum export sales from Iraq, as well as remaining balances from the UN Oil-for-Food Program and other frozen Iraqi funds. Disbursements from the DFI must be used for the benefit of the Iraqi people, and are directed by the Coalition Provisional Authority, in consultation with the Iraqi interim administration. The IAMB will continue to function after the dissolution of the Coalition Provisional Authority on June 30, 2004 and will work with the Interim Government of Iraq, as set out in United Nations Security Council Resolution 1546. United Nations Security Council Resolution 1637 extended the mandate of the IAMB until December 31, 2006, United Nations Security Council Resolution 1723 extended the mandate of the IAMB until December 31, 2007, United Nations Security Council Resolution 1790 extended the mandate of the IAMB until December 31, 2008, United Nations Security Council Resolution 1859 extended the mandate of the IAMB until December 31, 2009, and United Nations Security Council Resolution 1905 further extended the mandate of the IAMB until December 31, 2010 and United Nations Security Council Resolution 1956 further extends the mandate of the IAMB until June 30, 2011.
The principal role of the IAMB is to help ensure that:
- The DFI is used in a transparent manner for the benefit of the people of Iraq, and
- Export sales of petroleum, petroleum products, and natural gas from Iraq are made consistent with prevailing international market best practices.
For this purpose, the IAMB functions akin to an audit oversight board. (Terms of Reference)
Alert on false bidding documents (June 2007)
Please be advised that the IAMB has been notified of the circulation of a World Bank bidding document for the purchase of procurement documents for pharmaceutical products financed by a World Bank loan to the IAMB. The Invitation for Bids states that the bidding document can be purchased for a non-refundable fee of US$2,850, including a US$500 registration fee. THIS INVITATION TO BIDS IS A FAKE. IAMB is not a contracting authority nor does it receive loans from the World Bank.