Subsequently, the Executive Committee decided to approve the project proposal for the conversion from HFC-245fa and cyclopentane to HFO-1233zd(E) and cyclopentane in the manufacture of domestic refrigerators at Hisense Kelon in the amount of US $1,275,000, plus agency support costs of US $89,250 for UNDP, taken from the additional voluntary contributions provided by a group of non- Article 5 countries for fast-start support for the implementation of the HFC phase-down, on the understanding:
- That no further funding would be available until the instrument of ratification of the Kigali Amendment by the Government of China had been received by the depositary at the Headquarters of the United Nations in New York;
- That 250 metric tonnes (257,500 mt CO2-eq) of HFC-245fa would be deducted from the starting point for sustained aggregate reduction in HFC once it had been established; and
- That the project would be completed within 24 months of the transfer of funds to UNDP and that a comprehensive completion report would be submitted within six months of project completion with detailed information on:
- The eligible incremental capital costs for all equipment and other components, including those not funded under the project;
- Incremental operating costs, including detailed information on the formulations developed and used, as well as the optimization achieved in the reduction of density;
- Any possible savings incurred during the conversion and relevant factors that facilitated implementation (e.g. whether any purchased and/or installed equipment or supplies had gone through a competitive quote/bidding process and the details thereof);
- Changes in the energy efficiency of the products being manufactured and any related policies established by the Government; and
- That any remaining funds would be returned to the Multilateral Fund no later than one year after the date of project completion.