UNESCO suspends year-end projects due to U.S. funding cut

CNN Reports:

UNESCO has suspended its projects and commitments until the end of year because the United States cut its $65 million funding in the wake of the agency's acceptance of Palestine for full membership, the agency's chief said Thursday. 

Irina Bokova, the director-general of the United Nations Educational, Scientific and Cultural Organization, said the agency's $65 million deficit is now its "most pressing issue." "This deficit is the sum owed by the United States for the year 2011," Bokova said on the occasion of the closing of UNESCO's general conference. "So we have to take drastic action, and we must take it now, at this general conference," 

Bokova said. "I have suspended all of our commitments. I have suspended our projects during this period of revision until the end of the year. "We are reviewing all activities in all areas, in all sectors, including contractual commitments, staff travel, publications, communications costs, meetings, and the rest. 

"With all these measures, we believe we can generate savings of $35 million. But this alone will not solve our problem," Bokova said.

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