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WASHINGTON-The United States is confident an international fund set up with Libya to compensate victims of U.S. and Libyan bombings will be well financed and start paying out soon, a senior U.S. official said on Friday.An agreement was signed in Tripoli on Thursday to create the Humanitarian Settlement Fund. It aims to resolve compensation cases on both sides, including more than $800 million of outstanding claims from U.S. victims and families from two bombings from the 1980s blamed on Libya.No details have been released about the potential worth of the fund or who will contribute to it. But it could amount to billions of dollars to cover the claims, including those from insurance companies seeking compensation."A lot of work has been done to identify contributors to the fund and I am optimistic that it will be a success," said Assistant Secretary of State David Welch, who signed the deal on behalf of the U.S. government in Libya."I am confident that there will be robust sources for this funding," he told a news conference on arrival in Washington.Once an already "agreed level" of money is in the fund, it will be distributed to U.S. and Libyan accounts. It is then the responsibility of both governments to pay outstanding claims.NO U.S. TAXPAYER FUNDS
Welch said the agreed amount for the fund was large and contributions would be accepted from any source including companies, countries and others. No U.S. taxpayer funds would be used, however.
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