41st Meeting of the Executive Committee

The Executive Committee decided:

(a) To take note with appreciation of the Treasurer’s report, including the tables showing the updated status of the Fund as at 18 December 2003 and reproduced in Annex I to the present report;
(b) To note with appreciation the note by the Treasurer on the methodology and assumptions used, and the increased transparency of data submission;
(c) Also, to note the reduction in the amount of losses from use of the fixed exchange rate mechanism and from the process for encashing promissory notes;
(d) To request contributing Parties to cooperate with the Treasurer to facilitate the timely encashment of promissory notes;
(e) To note that the cooperation of Parties’ financial authorities in sending written notification of payment to the Treasurer would be greatly appreciated;
(f) To urge those Parties that had not yet done so to make their contributions in a timely manner;
(g) To note with appreciation the contribution of Azerbaijan and encourage other Parties to follow the example it had set;
(h) To urge Parties with contributions that were long overdue to comply with paragraph 7 of Decision XI/7 of the Eleventh Meeting of the Parties; and
(i) To request the Treasurer to amend the last two rows of the table showing the 1991-2003 summary status of contributions and other income to read “outstanding contributions for certain countries with economies in transition”, and to add a footnote to the new title specifying the countries with economies in transition concerned.