176. The Executive Committee approved the following recommendations as included in document UNEP/OzL.Pro/ExCom/13/42 :
- The Parties and the Executive Committee have addressed the issue of savings and determined that only incremental costs should be financed with grants and projects with net savings may be funded through concessional loans. Although Fund activities currently demonstrate that projects with incremental savings are feasible (through the financing of project preparation), such projects may be good candidates for concessional loans from resources provided by the Fund or from other funding sources;
- It is, therefore, recommended that consideration of projects with net incremental savings might be provided through the consideration of sector strategies for each country. In such strategies, the impact of funding one company's project over another could be assessed and remedial action recommended as part of an overall sector plan that might include both grant and loan components;
- Implementing Agencies, regional development banks and other lending institutions should be encouraged to provide loans for those projects in Article 5 countries that lead to the phase-out of ozone-depleting substances but may not be eligible for grants from the Multilateral Fund. In this regard, feasibility studies and project proposals prepared by Implementing Agencies or bilateral donors should be made available to regional development banks and other lending institutions.