Report by the joint meeting of the Sub-Committee on Financial Matters and the Sub-Committee on Project Review on ways and means to address the shortfall
23. On the proposal of the Chairman, the Executive Committee approved the framework as proposed by the Sub-Committees.
[17. The representative of the United Kingdom, speaking as Chairman of the Sub-Committee on Project Review, introduced the report of the joint meeting (UNEP/OzL.Pro/16/SC/L.1) explaining that the objective of the meeting had been to recommend a framework that was transparent, objective and fair, and addressed the situation where the projects submitted exceeded the resources available. Under the framework, resources would be divided into distinct slices for various categories of projects, including slices for low-consuming countries and support projects. He emphasized that the procedure would not mean that some projects would be rejected but simply that their approval would be delayed until resources became available. Further work still had to be done on such matters as the percentage of resources to be allocated to each category of project and the definition of cost-effectiveness sector thresholds, but the framework was flexible and could be adjusted to changing circumstances.]