40th Meeting of the Executive Committee

Progress reports are presented by the implementing and bilateral agencies once a year. These reports present accomplishments in terms of disbursement rates, project completion and ODS phase-out. The reports showed that targets for disbursements and phase-out in 2002 had been fully achieved. Since the financial information in the progress reports did not appear to be consistent with the report of the treasurer of the Fund, the Executive Committee requested
agencies to re-submit their financial information in their progress reports for the purpose of reconciliation to the 41st meeting.