ADMINISTRATIVE COSTS OF THE IMPLEMENTING AGENCIES (STATUS REPORT)
The Executive Committee, having noted the recommendations of the working group decided:
(a) To apply an agency fee of 13 per cent on projects up to a value of $500,000;
(b) That for projects with a value exceeding $500,000 but up to and including $5,000,000, an agency fee of 13 per cent should be applied on the first $500,000 and 11 per cent on the balance;
(c) To assess projects with a value exceeding $5 million on a case-by-case basis;
(d) That the agency fee for projects submitted under the SME window (Decision 25/56) should be 13 per cent;
(e) That agencies implementing projects under the SME window should report back to the Executive Committee on the actual administrative costs of such projects;
(f) To request the Secretariat and the implementing agencies to develop standardized cost items for future reporting on administrative costs;
(g) To review the results of implementation of this decision at the second meeting of the Executive Committee in 1999 and to report to the Eleventh Meeting of the Parties in 1999, in line with decision VIII/4 of the Meeting of the Parties;
(h) To apply this decision to projects approved beginning with the current meeting.