Decision 70/20

Report on how to record disbursement for stage I of HCFC phase-out management plans as per decision 69/24(c)

After hearing the report of the contact group, the Executive Committee decided:

1. To note:
   1. The report on how to record disbursement for stage I of HCFC phase-out management plans (HPMPs) as per decision 69/24(c), as contained in document UNEP/OzL.Pro/ExCom/70/50;
   2. That the World Bank had already established practices to enable it to reflect disbursements from the Foreign Economic Cooperation Office/Ministry of the Environment (FECO/MEP) to final beneficiaries, under the definition used in the annual progress and financial report for stage I of the HPMP for China;
2. To request UNDP and UNIDO, in the case of stage I of the HPMP for China:
   1. To designate in their annual progress and financial reports, as per decision 69/24(c), the implementation modality whereby disbursements were made to final beneficiaries from FECO/MEP under stage I of the HPMP;
   2. To provide an extra column in their annual progress and financial reports for disbursements made from FECO/MEP to final beneficiaries, on the understanding that the reconciliation of the accounts of the Fund would not take into account this additional column;
3. To request the implementing agencies, in the light of decision 68/22(b), in the case of stage I of the HPMP for China, to submit to the Treasurer an annual audited financial statement to be provided by FECO/MEP eight weeks prior to an Executive Committee meeting or earlier. The financial statement should show clearly the income received from the implementing agencies, the disbursements by FECO/MEP to final beneficiaries, and the interest amount earned by FECO/MEP on the balances held by FECO/MEP under stage I of the HPMP for China; and
4. To request the Treasurer to record in the accounts of the Fund interest earned from balances held by FECO/MEP under stage I of the HPMP for China.