Decision 75/74

The Executive Committee decided:

1. To note:
   1. The 2016 annual implementation tranche and 2015 progress report of the HCFC production phase-out management plan (HPPMP) for China, considered by the Sub‑group on the Production Sector;
   2. That 75 per cent of the ownership of producer Pengyou had been transferred to a British company registered in Hong Kong;
   3. That the World Bank would include in its 2015 verification report, to be conducted in 2016, verification of the dismantling of HCFC production facilities in Jiangsu Blue Star and Yantai Zhongrui;
2. To approve the 2016 tranche of the HPPMP for China, and the corresponding 2016 tranche implementation plan, in the amount of US $24 million, plus agency support costs of US $1.344 million for the World Bank, noting that US $7.2 million plus agency support costs of US $403,200 from the fourth tranche would be released at the 75^th meeting and that the remaining balance of US $16.8 million, plus agency support costs of US $940,800 would be released in 2016; and
3. To request the Treasurer to deduct US $8,370 of interest accrued from the 2014 tranche as part of the release of the funds to the World Bank.