Having considered the comments and recommendations of the Sub-Committee on Monitoring, Evaluation and Finance (UNEP/OzL.Pro/ExCom/39/6, paragraphs 49 and 50, the Executive Committee decided:
(a) To take note of the report on project balances contained in UNEP/OzL.Pro/ExCom/39/18;
(b) To note the levels of funds being returned to the 39th meeting totalling US $5,120,933 including support costs as follows by agency: US $2,662,757 from UNDP and agency support costs of US $346,159, including reimbursement of funds previously returned for one project in error by UNDP; US $708,297 from UNIDO and agency support costs of US $91,324; and US $1,121,320 from the World Bank and agency support costs of US $191,076, including the reimbursement of funds returned in error by the Bank for one project and the reimbursement of financial intermediary fees for cancelled projects;
(c) Also to note that implementing agencies had balances totalling US $3,381,057, excluding support costs, from projects completed over two years previously: UNDP (US $1,121,615 plus support costs); UNIDO (US $1,670,822 plus support costs); and the World Bank (US $588,620 plus support costs);
(d) To request the Chair of the Executive Committee to send a letter to the head administrators of UNDP and UNIDO expressing the Multilateral Fund’s strong concern with regard to the large amounts corresponding to non-reimbursed balances for projects completed two years previously, and requesting that those amounts be returned immediately to the Multilateral Fund for reprogramming.