The Executive Committee, having noted the recommendations of the Sub-Committee on Project Review on high cost projects (UNEP/OzL.Pro/ExCom/20/5, paras. 16-17), decided:
(a) That projects in the consumption sector with a requested level of funding of more than US $5 million should be submitted to the Fund Secretariat in full, 12 weeks in advance of the Executive Committee meeting at which they were to be considered;
(b) For projects other than umbrella projects:
(i) That the submitting agency should, if requested, provide additional information, such as detailed baseline information beyond that normally provided, plant layouts, description, justification and costing of all significant items;
(ii) That the analysis and review process could involve a joint visit, if warranted, by the Fund Secretariat’s reviewer and the relevant implementing agency;
(c) In relation to the dissemination of information:
(i) To request the Fund Secretariat to prepare and maintain, for dissemination to the implementing agencies, a database of estimated costs of major equipment items obtained from approved investment projects and other sources by the Fund Secretariat;
(ii) That the database should include information on completed and ongoing projects where the equipment procurement process had been concluded, when such information became available;
(iii) To request the implementing agencies, when the database had been completed, to take steps to ensure that consultants preparing projects were familiar with its contents: this should be facilitated through a conference or seminar, the modalities and timing of which would be finalized by the Fund Secretariat and the implementing agencies in the course of their regular coordination meetings.