Decision 67/2

After hearing the report on the informal discussions on the issue of Germany’s promissory notes, the Executive Committee decided:

1. To note:
   1. The report of the Treasurer on the status of contributions and disbursements and the information on promissory notes contained in Annex I to the present report;
   2. That France should be added to the list of Parties that had opted to use the fixed‑exchange rate mechanism in making their contributions to the Fund during the replenishment period 2012-2014, as contained in Annex I to the present report;
   3. The feedback received from the Government of Germany on the proposed accelerated encashment schedule to the effect that it would not be possible to accelerate encashment of such notes during the current replenishment period and that the German Parliament’s approval would be required to accelerate the encashment of promissory notes during the next replenishment period;
   4. That the encashment schedule for Germany’s promissory notes for the 2012‑2014 triennium went beyond the replenishment period and that some of the notes would be due for encashment between 2015 and 2017;
2. To request the Government of Germany to pursue with the relevant authorities the issue of encashment of Germany’s promissory notes within the next replenishment period, and to inform the Executive Committee accordingly at its first meeting in 2014; and
3. To urge all Parties to pay their contributions to the Multilateral Fund in full and as early as possible.