The administrative costs of the Financial Mechanism
76. The Executive Committee accepted the recommendations in subparagraphsÿ75 (a)-(d) above.
[75. As requested by the Chairman of the Executive Committee, the representatives of Norway, the World Bank, the Fund Secretariat and the consultant met and agreed on the following:
- The consultant should continue working on the good basis of the current Report and prepare, together with the participation of the four Implementing Agencies, the agreed categories of costs based on a common understanding of administrative costs and project-related costs for budgeting and financial reporting;
- Cost ratios should be identified to reflect the burden of administrative costs on the Multilateral Fund;
- A discussion of the options should be presented on the basis of the above analysis;
- The result would be presented to the Fifteenth Meeting of the Executive Committee.]