Having considered the comments and recommendations of the Sub-Committee on Monitoring, Evaluation and Finance (UNEP/OzL.Pro/ExCom/28/4, para. 18), the Executive Committee decided:
(a) To take note with appreciation of UNDP's progress report;
(b) To approve the transfer of US $162,281 plus 13 per cent agency fees from UNDP to the Government of Germany for the project (MAR/REF/17/TAS/07) with a new completion date of June 2001 and request the Treasurer to offset this amount transferred against Germany's bilateral contributions for the triennium (1997-1999);
(c) To take note of the explanation given by UNDP concerning the Compresores Andinos project in Colombia (COL/REF/13/INV/07), where minor equipment purchased with Fund resources had been dismantled and sold to other enterprises;
(d) To note the explanation provided by UNDP on the expenditure for the El-Tawil project in Egypt (EGY/FOA/15/INV/46) and that US $29,011 plus agency fees had been disbursed on the project and the remaining balance of US $91,979 plus support costs would be returned to the Fund following project cancellation due to bankruptcy;
(e) To note the return by UNDP of US $1,268,277 from surplus project budgets to the Multilateral Fund for reprogramming, as indicated in recommendation 7 of the Secretariat’s recommendations in UNEP/OzL.Pro/ExCom/28/7.