Following a discussion, the Executive Committee decided:
(a) To approve the remaining US $10 million in the 1999 tranche for implementation of the Agreement for the China Production Sector with the understanding that disbursement of these funds by the World Bank would be contingent on the verification by the World Bank for the Executive Committee in accordance with the World Bank’s responsibilities in the Agreement demonstrating that the initial reductions required by the Agreement had been met;
(b) To request the World Bank to transmit a report to the Secretariat for onward transmission to the Executive Committee on the understanding that disbursement of this US $10 million would take place if no objection was received by the Secretariat within 15 business days of the dispatch of the report;
(c) To convene an informal meeting of the Subgroup to review the revised proposal with regard to the Indian discussion paper to be prepared by Canada, Italy and the United States of America during the week of 26 September 1999 in Washington D.C. An additional meeting was foreseen on the margin of the Twenty-ninth Meeting of the Executive Committee.