The global environment is one of diversity in culture, religion, political system and economic conditions.

It also helps to shield them from shocks and volatilities in the global economic and financial environment.

Admittedly, the current global economic environment has placed public finances in many developed countries under extreme pressure.

DESERTIFICATION, PARTICULARLY IN AFRICA

Global Environment Facility Global Environment Facility, Instrument for the Establishment of the Restructured Global Environment Facility, 1994, as amended, http thegef.org GEF_Instrument3.pdf.

Fiscal prudence and stable inflation rates are cornerstones of today s relatively healthy global economic environment.

Global Environment Facility

Draft decision submitted by the Chairperson of the Committee

C. GEO for Deserts

OECD Organisation for Economic Co operation and Development

Scope and Coherence of the Land Degradation Activities in the GEF, paras.

The Council exercises most of the key decision making and policy guidance powers of the GEF.

GEF Council, Joint Summary of the Chairs, GEF Council Meeting, May 14 15, 2003, http www.gefweb.org Summary_of_the_Chairs.pdf.

Administration The GEF Secretariat prepared a draft Memorandum of Understanding (draft MOU) between the GEF and the COP that presented the respective responsibilities of the GEF and COP in the operation of the Stockholm financial mechanism.

The global FDI environment

Annual Global Environmental Outlook reports

Fourth Global Environment Outlook report

The Assembly reviews general policies and operations of the GEF, and may approve amendments to the GEF Instrument.

A new feature of the GEO 4 assessment is the establishment of strong links between GEO and institutions of the multilateral environmental agreements, with a view to facilitating enhanced policy analyses across the GEO 4 chapters.

Environment Programme and the relevant decisions of the Governing Council

World Russian People's Council

Global Environment Facility 87 94 15

This new type of convention GEF relationship is intended to be formalized under a memorandum of understanding in 2005.

GEF Instrument, para.

(a) Assembly means the Assembly of the GEF as defined in the paragraph 13 of the Instrument for the Establishment of the Restructured Global Environment Facility

(e) Focal areas of the GEF means the focal areas provided in paragraph 2 of the Instrument for the Establishment of the Restructured Global Environment Facility

Funds are sought in close cooperation and coordination with the GM and the Global Environment Facility (GEF).

It recalls that UNCTAD XI mandated UNCTAD to continue its work on enterprise development, taking account of developments in the international economic environment.

and the Global Environment Facility

The Subsidiary Body for Implementation, at its twenty third session, decided to recommend the following draft conclusions for adoption by the Conference of the Parties at its eleventh session

Draft conclusions on the report of the Global Environment Facility to the Conference of the Parties

The GEF is also a member of the Facilitation Committee of the GM.

GEF Project Cycle An Update, GEF Council, GEF C.22 Inf.9 (2003), http thegef.org Documents Council_Documents GEF_C22 Project_Cycle_Update__FINAL__Nov_5_2003.pdf.

(m) Further development and finalization, in consultation with the secretariat of GEF, of a draft memorandum of understanding between the Conference of the Parties of the Stockholm Convention and the GEF Council

10. Calls upon the Global Environment Facility and its implementing agencies to strengthen their cooperation with the Global Mechanism and the secretariat of the Convention

See Gareth Porter et al., Global Environment Facility, Study of GEF's Overall Performance (1998) see also GEF OPS2.

But the global environment will not respond to isolated national efforts alone.

GEF training workshop

The global FDI environment 3

(c) South Africa has requested a GEF project.

Alternatively, such a thematic cluster may also be well served by a new or expanded GEF focal area.

The GEF Secretariat carries out administrative functions.

In addition to the MOUs, the GEF operationalizes the guidance received from the COPs by preparing an Operational Program for each focal area.

Accessing different levels of funding The GEF provides grants for four types of projects, each with different grant amount ranges and approval requirements Full sized projects are those receiving more than one million US dollars in GEF grants.

Financial Mechanisms Operated by the Global Environment Facility The GEF serves as the interim operational entity for the financial mechanisms of several MEAs, including the Stockholm POPs Convention, the Convention on Biological Diversity, and the Framework Convention on Climate Change.