Having considered the recommendation of the Sub-Committee on Monitoring, Evaluation and Finance (UNEP/OzL.Pro/ExCom/39/6, paragraph 31), the Executive Committee decided:
(a) To note that MDI activities in Argentina and CFC activities in Indonesia and Tunisia would be re-phased to the 2004 or 2005 business plan pending a decision of the Executive Committee on funding for projects to maintain momentum or accelerate phase out;
(b) Also to note that the CTC consumption and production project in India would be submitted to the 40th meeting of the Executive Committee, at which time the level of funding indicated in the business plan could be adjusted;
(c) To endorse the 2003 business plan of the World Bank contained in UNEP/OzL.Pro/ExCom/39/13 and Corr.1, as modified above, while noting that endorsement did not denote approval of the projects identified therein nor their funding levels;
(d) To approve the performance indicators for the World Bank set out in Tables 1 and 2 of the Fund Secretariat’s comments contained in UNEP/OzL.Pro/ExCom/39/13 and Corr.1, while setting a phase-out target of 20,747 ODP tonnes for 2003 for the investment project performance indicator, on the understanding that the appropriate level would depend on CTC phase-out approved for India (Annex V to the present report);
(e) Also to approve a target of 40 investment projects to be completed in 2003.