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Financial Mechanism

The Fourth Meeting of the Parties established the Financial Mechanism, including the Multilateral Fund provided for in Article 10 of the Montreal Protocol as amended at the Second Meeting of the Parties. The Parties decided that any resources remaining in the Interim Multilateral Fund shall be transferred to the Multilateral Fund. The Parties adopted the terms of reference of the Multilateral Fund and of the Executive Committee which should continue to operate under the agreements, procedures and guidelines applicable to the Interim Multilateral Fund.

 (UNEP/OzL.Pro/4/15 Decision IV/18 (sections I.1, I.2, I.5, I.7).

(Supporting document:UNEP/OzL.Pro/4/15 Annexes IX, X).

The Seventh Meeting of the Parties requested the Executive Committee to consider innovative mobilization of existing and additional resources in support of Protocol objectives and any further action by the end of 1996 and to report thereon to the Eighth Meeting of the Parties; and that the actions set out in Annex I.1 should be taken to improve the functioning of the Financial Mechanism.

(UNEP/OzL.Pro.7/12 Decision VII/22).

The Eighth Meeting of the Parties requested the Executive Committee to move forward as expeditiously as possible on decision VII/22, and in particular Actions 5, 6, 10, 11, 14 and 21, and to report back to the Ninth Meeting of the Parties.

(UNEP/OzL.Pro.8/12, Decision VIII/5).

The Eighth Meeting of the Parties decided:

1.   to note with appreciation the measures taken by the Executive Committee to improve the Financial Mechanism;

2.   to request the Executive Committee to continue with further actions to implement decision VII/22 to improve the Financial Mechanism and report to the Meetings of the Parties annually.

(UNEP/OzL.Pro.8/12, Decision VIII/7, para. 1 and 2).

The Twenty-first Meeting of the Executive Committee, having considered the report on actions to improve the functioning of the Financial Mechanism (UNEP/OzL.Pro/ExCom/21/33), which had been prepared in response to decision VIII/5 of the Eighth Meeting of the Parties, decided:

(a)  that the report should be forwarded to the Open‑ended Working of the Parties at its fifteenth meeting, with the amendments agreed to by the Executive Committee at its Twenty‑first Meeting;

(b)  that, at its Twenty‑second Meeting, the Executive Committee should hold a substantive discussion on measures to be taken to move forward on the actions referred to in decision VIII/5 of the Eighth Meeting of the Parties to the Montreal Protocol.

(UNEP/OzL.Pro/ExCom/21/36, Decision 21/38, para. 54).

(Supporting document: UNEP/OzL.Pro/ExCom/21/33).

The Twenty-second Meeting of the Executive Committee decided:

(a)  to defer to its Twenty-third Meeting the substantive discussion, called for by its Decision 21/38, on measures to be taken to move forward on the actions referred to in decision VIII/5 of the Eighth Meeting of the Parties, expressing the hope that the subject could be taken up early in the meeting;

(b)  to agree that its report on actions to improve the functioning of the Financial Mechanism to forwarded to the Open-Ended Working Group of the Parties at its Fifteenth Meeting, would first be reviewed on its behalf by the Chairman, the Vice-Chairman and the representatives of India and the United States.

(UNEP/OzL.Pro/ExCom/22/79/Rev.1, Decision 22/73, para. 104).

The Twenty-third Meeting of the Executive Committee decided:

(a)  to examine the subject again at a subsequent meeting (i.e., actions to improve the Financial Mechanism), in time for a report to be submitted to the Tenth Meeting of the Parties;

(b)  to request the World Bank to submit the concessional financing study to the Executive Committee at its Twenty-fourth Meeting.

(UNEP/OzL.Pro/ExCom/23/68, Decision 23/49, para. 87).

The Tenth Meeting of the Parties decided:

1.   to note with appreciation the work and the report of the Executive Committee on the measures taken to improve the Financial Mechanism and technology transfer and on its excellent functioning in 1998;

2.   to request the Executive Committee to report annually to the Meetings of the Parties on the operation of the Financial Mechanism and the measures taken to improve the operation.

(UNEP/OzL.Pro.10/9, Decision X/31).


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