34. To facilitate faster implementation of investment projects, the Executive Committee established a subcommittee to evaluate in greater detail the status of a representative sample of approved projects and to report back to the eighth meeting of the Executive Committee with a view to identifying barriers to speedy project preparation and implementation and specific proposals for addressing those problems. The subcommittee would be chaired by the Fund's Vice-chair and would include representatives of Venezuela, Ghana, Germany, and the Secretariat. To aid in the discussion, the subcommittee would ask representatives of Mexico and Malaysia to make presentations on actions taken on previously approved projects. In order to gain a fuller understanding of preparation and implementation processes and opportunities to advance cooperation, the World Bank, UNEP, and UNDP would be invited to make a presentation on their project development and financial disbursement processes.
35. A full report on the proceedings and outcome of the work of the subcommittee would be made available for consideration by the Executive Committee at its Eighth Meeting.