123. The Executive Committee approved the following project to be implemented by the World Bank:
Approved amount
US $
Conversion of process for manufacture of disposable syringes 481,000
from EO/CFC-12 to EO/Co2 sterilisation and direct siliconization
at Hindustan Syringes and Medical Devices Pvt. Ltd.
The Executive Committee decided to approve the sterilization component of the Hindustan project but not to approve the siliconization part of the project due to lack of information on the existing baseline and to its relatively poor cost-effectiveness. As to whether to fund the 20 per cent of production exported to non Article 5 countries, the Committee decided to request the Secretariat to develop a policy paper on issues dealing with exports. Approval of this project did not constitute a precedent and would not prejudge any decision that might be taken in future projects dealing with exports.