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WHEREAS
the Parties to the Montreal Protocol on Substances that Deplete the Ozone Layer
(“Protocol”) to the Vienna Convention for the Protection of the Ozone Layer
(“Parties”) have established the Multilateral Fund for the Implementation of
the Montreal Protocol (“Fund”) to operate under the authority of the Parties
through an Executive Committee to provide the financing of agreed incremental
costs to enable Parties operating under paragraph 1 of article 5 of the
Protocol to comply with the control measures of the Protocol;
WHEREAS
the Parties established an Executive Committee to develop and monitor the
implementation of specific operational policies, guidelines and administrative
arrangements including the disbursement of resources for the purpose of
achieving the objectives of the Fund with the co-operation and assistance of
the World Bank (“Bank”), the United Nations Environment Programme (“UNEP”), the
United Nations Industrial Development Organization (“UNIDO”) and the United
Nations Development Programme (“UNDP”);
WHEREAS
at the request of the Parties, the Fund was established in accordance with the
Financial Regulations and Rules of the United Nations;
WHEREAS
by decision of the Executive Committee, UNEP has been appointed as Treasurer of
the Fund;
WHEREAS
the roles and responsibilities of the Treasurer have been set out in the 2004
revised Agreement between the Executive Committee and UNEP as the Treasurer of
the Fund;
WHEREAS
UNDP has agreed to provide for the establishment of accounts to be constituted
by the funds provided to UNDP in accordance with the Agreement concluded on 19 June
1991 and 21 August 1991 as amended on 31 July 1998 and 14 August 1998
respectively between the Executive Committee of the Multilateral Fund and UNDP,
together with any other assets and receipts received for the benefit of the
Parties;
WHEREAS
the Executive Committee and UNDP have agreed on the administrative arrangements
and procedures covering UNDP involvement in the implementation of the work
programme of the Fund, pursuant to which the Treasurer will transfer funds to
UNDP to enable UNDP to administer and manage projects and activities approved
by the Executive Committee for implementation by UNDP;
NOW
THEREFORE, UNDP and the Treasurer hereby agree as follows:
Article I
1.1 The Treasurer shall transfer the amounts
approved by the Executive Committee, in advance of the implementation of
planned projects and activities approved by the Executive Committee for
implementation by UNDP, to the UNDP bank account.
1.2 Funds held in the account and not immediately
required will be invested in accordance with the regular practice of UNDP, and
the income from investments will be added to the resources held.
Article II
2.1 The accounts of the Fund will be administered
by UNDP in accordance with the Financial Regulations and Rules of UNDP.
2.2 Project management and expenditures will be
governed by the Financial Regulations and Rules of UNDP.
Article III
3.1 UNDP will provide financing from the accounts
for the purpose of meeting the costs of the projects and activities approved by
the Executive Committee for implementation by UNDP.
3.2 In line with the terms of Articles 1 and 2 of
the 1998 Amendment to the 1991 Agreement between the Executive Committee and
UNDP, UNDP will not make commitments before the receipt of funds or in the case
of Promissory Notes before receipt of written confirmation from the Treasurer.
3.3 Notwithstanding the completion of projects
financed from the accounts, UNDP will continue to hold all unutilized resources
in the accounts until all commitments and liabilities in the implementation of
these projects have been satisfied and project activities have been brought to
an orderly conclusion. Any resources that remain unexpended after such
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Treasurer will be subject solely to the Internal and External Audit of the
United Nations.
Article V
5.1 These arrangements will remain in force until
such time as either party agrees to terminate the Agreement. Should one party
wish to terminate these arrangements, such termination notice will be given 180
days prior to its intended termination.
5.2 Notwithstanding the termination of this
Agreement, UNDP will continue to hold unutilized funds and interest income
earned thereon until all commitments and liabilities incurred in the
implementation of activities approved by the Executive Committee have been
satisfied and activities have been brought to an orderly conclusion.
5.3 Any funds that remain after such commitments
and liabilities have been satisfied will be transferred by UNDP to the Fund or
used as the Executive Committee and UNDP may jointly determine.
Article VI
6.1 This Agreement shall enter into force on the
date of the last signature by the authorized representatives of the
signatories. The Agreement may be modified only by written agreement between
the signatories.
_______________________ _________________________
For UNDP For
UNEP as Treasurer
Name: Name:
Functional Title: Functional
Title:
Place of signature: Place of
signature:
Date: Date:
(UNEP/OzL.Pro/ExCom/46/47, Decision 46/34, para. 139).
(Supporting document: UNEP/OzL.Pro/ExCom/46/47 Annex VIII).
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