Decision 45/3

Following the discussion on the total resources available for project approvals, the Executive Committee decided:

1. To note:
   1. The report on project balances contained in document UNEP/OzL.Pro/ExCom/45/4;
   2. The net level of funds being returned from the multilateral implementing agencies to the 45^th Meeting against project balances totalling US $4,222,859, including the return of US $263,533 from UNDP; US $40,000 from UNEP; US $485,945 from UNIDO; and US $3,433,381 from the World Bank;
   3. The net level of support costs being returned from the multilateral implementing agencies to the 45^th Meeting against project support cost balances totalling US $519,343, including the return of US $33,923 from UNDP; US $5,200 from UNEP; US $59,063 from UNIDO; and US $421,157 from the World Bank;
   4. That multilateral implementing agencies had balances totalling US $47,929, excluding support costs, from projects completed over two years previously: UNDP--US $42,611 plus support costs; and UNEP‑‑US $5,318 plus support costs; and that the amount of balances from such projects was the lowest achieved since such balances began to be monitored by the Executive Committee at its 28^th Meeting;
   5. The return of US $110,352 from UNDP on behalf of Australia, including earnings on interest amounting to US $68,190, for the completed recovery and recycling project in Viet Nam (VIE/REF/20/DEM/14), and the Treasurer’s adjustments to Australia’s bilateral contributions and cash contributions, and that the interest was credited as interest collected on Fund balances instead of additional contributions from Australia;
2. To request the Treasurer to offset the return of US $75,353 to Germany from the Azckon refrigeration project in the Philippines (PHI/REF/23/INV/53);
3. To note that Germany would transfer the interest amounting to US $36,710 to the Treasurer, which should be credited as interest collected on Fund balances instead of additional contributions from Germany; and
4. To note that US $88,629,484 was available to the Executive Committee for approvals at the 45^th Meeting.