Having considered the report of the Secretariat on concessional lending (UNEP/OzL.Pro/ExCom/21/34), the Executive Committee decided:
(a) To invite the Secretariat and the implementing agencies to submit for the consideration of the Executive Committee an innovative proposal for a demonstration project or projects to illustrate how concessional lending and other forms of innovative funding, including financing from the private sector, can be used to advance the phase-out of ozone-depleting substances by providing funding for projects and activities that may or may not otherwise be eligible for full funding in the form of grants from the Multilateral Fund;
(b) To approve the request of the World Bank for US $60,000 toward the cost of a concessional financing study to be carried out by the International Finance Corporation with a view to providing the Executive Committee with a comprehensive report that would:
(i) Explore ways in which private-sector finance can be mobilized to assist Article 5 countries in phasing out ozone-depleting substances, particularly in sectors with a good return on investments in ozone-friendly technologies;
`(ii) Provide a final theoretical overview of ways in which concessional funding and other forms of innovative funding, including on-lending, can be used to augment and make most effective use of the resources of the Multilateral Fund.