Decision 41/3

41st Meeting of the Executive Committee
December 2003
Institutional-Treasurer

Following a discussion the Executive Committee decided:

  1. To request UNEP to continue acting as Treasurer;
  2. To negotiate a new agreement with UNEP for its services as Treasurer;
  3. That the new agreement should stipulate that the annual fee of the Treasurer would remain in effect unchanged for a period of five years as of the date of the agreement;
  4. That, pending the conclusion of the new agreement, UNEP should continue to be reimbursed for the cost of acting as Treasurer at a rate of US $301,000 per annum;
  5. To request UNEP to substantiate its request for an annual fee of US $500,000, including clarification of its need for additional support staff, and to seek further savings in this area;
  6. Also to request UNEP to provide information on the rate of return on its Fund investments; and
  7. To re-examine the issue at its 42nd Meeting.