Decision in paragraph 88 in UNEP/OzL.Pro/ExCom/7/30

88.     The Executive Committee decided to endorse the recommendation that the Fund should not finance phase-out activities relating to enterprises that were wholly owned subsidiaries of transnational corporations or enterprises permitted to operate in "free zones" and whose output was for export only. It also decided that partial funding should be considered on a case-by-case basis to finance the local share ownership of any given enterprise partly owned by a transnational corporation. In such a case, funding could be provided as a percentage of project incremental costs proportionate to the local share ownership of the enterprise with the transnational corporation responsible for the rest. Subject to the approval of the Executive Committee, the same criteria should apply to bilateral assistance for activities involving subsidiaries of transnational corporations (UNEP/OzL.Pro/ExCom/7/24/Corr.1) (Annex VI).