Noteworthy are such initiatives as the International Financing Facility.

Action is needed on innovative financing, including the International Finance Facility (IFF) and an airline ticket levy.

Proposal by the European Community. Addendum Information to facilitate discussions on the appropriate A5 reduction steps for MB. UNEP OzL.Pro.15 3 Add.1.

The GEF is the only multipurpose financing facility for MEAs.

Due to its special status, South Africa has applied for funding from the Global Environmental Facility (GEF).

The concepts of compensatory finance mechanisms to offset the poverty effects of preference erosion, and aid for structural development toward enhanced international trade in goods and services (in the spirit of the aid for trade initiative) were discussed extensively.

Accordingly, the Panel considers that compensatory restoration is appropriate in this case.

How soon can agreement on the proposed International Finance Facility be reached by the necessary minimum number of donors?

As such, it is the only multipurpose, multi convention financing facility for MEAs.

1.98 50,000 children with learning difficulties will have been provided with remedial education.

This is one of the main aims of global taxation mechanisms, such as the International Finance Facility initiative and the Airplane Tax.

In the view of the Panel, such a preserve is feasible, cost effective and poses a low risk of adverse impacts.

The European Financial Stability Facility European Stability Mechanism (EFSF ESM) should carry out the necessary recapitalization of the Greek banks via direct capital injections.

The innovative idea of launching in 2005 an International Finance Facility to support an immediate front loading of official development assistance is also noteworthy.

Innovative financial mechanisms such as the International Finance Facility, carbon off setting, emissions trading, international taxation and the potential of debt for nature swaps should be further explored.

These modifications and adjustments reduce the expenses of the compensatory project to USD 46,113,706.

In particular, the Secretary General's recommendation to launch an International Finance Facility as a mechanism for securing a stable and predictable source of financing deserves serious consideration.

Last week saw the launch of the 4 billion IFF for Immunization, which will help save the lives of five million children over the next 10 years.

In addition, the Global Environmental Facility should be encouraged to use the opportunity of its pending replenishment to increase funding for water and sanitation, using its international water and land degradation windows.

The operational program describes the POPs related activities the GEF would provide funding for, i.e., capacity building, on the ground interventions, and targeted research.

In assessing the appropriate compensatory restoration project for damage to shoreline resources, Kuwait considered six alternatives.

With regard to the proposed environmental education programme, Iraq states that it is a human services programme and not an appropriate form of compensatory restoration for loss of ecological services.

Until recently, such official finance came from fiscal authorities (the European Financial Stability Facility, soon to be the European Stability Mechanism) and the International Monetary Fund.

If the funding is channeled through the IMF, and is to be treated on par with private debt, the Fund will need a guarantee from the EFSF or strong eurozone countries that it will be indemnified in any restructuring.

Chapter II

Item 5 of the provisional agenda

and subregional Centres

Contents

Introduction

ICCD COP(4) 3 Add.7 Implementation of the Convention Addendum Consideration of additional procedures or institutional mechanisms to assist the Conference of the Parties in regularly reviewing the implementation of the Convention

See article 14 of the International Covenant of Civil and Political Rights article 8 of the American Convention on Human Rights article 6 of the Convention for the Protection of Human Rights and Fundamental Freedoms (United Nations, Treaty Series, vol. 213, No. 2889) and article 7 of the African Charter on Human and Peoples' Rights (United Nations, Treaty Series, vol. 1520, No. 26363).

The Facility would be designed to provide a rapid increase in official assistance through innovative financing arrangements that would allow Governments' future aid commitments to be expended before they are budgeted.

It was hoped that the proposed new mechanisms, such as the proposed International Finance Facility, would generate additional resources for development by 2015 and beyond, although concern was raised that the Facility would not raise additional money but only frontload official development assistance.

Annex to the Convention

Annex to the Convention

(Text annexed)

The international arrangement on forests could also provide access to new funding mechanisms, including more explicit recognition and direct access to funds such as the Global Environment Facility (GEF).

In this regard, we welcome the initiative of the World Bank to look into the establishment of a global road safety facility, which would help to create funds in support of developing countries' road safety plans.

The challenge rests in finding additional resources and devising innovative sources of financing, such as the proposed International Finance Facility for the front loading of official development assistance and other proposed financing mechanisms these matters need to be appropriately addressed.

After its initial, unsteady steps during the pilot phase, the GEF has generally become an effective and credible facility for funding activities that deliver significant global environmental benefits.

Saudi Arabia states that this additional compensatory project is necessary because the proposed preserves would not provide adequate compensation for damaged salt marshes and mangroves. In the third F4 instalment, Saudi Arabia had submitted two claims for expenses to remediate the damage in this area.

(i) support the diversification of sources of financing as well as enhanced funding for the implementation of the Convention, through the Global Environment Facility and the Global Mechanism and other possible sources, inter alia, the Sustainable Development Foundation

UNDP interventions funded through this TRAC 1.1.2 facility will encompass system wide capacity development programme initiatives within the framework of the multi year funding framework (MYFF).

The review will apply specific performance criteria to evaluate the level of funding, the effectiveness of the GEF in its capacity as principal operational entity, and the ability of the financial mechanism to respond to the needs of the Convention and the policy guidance of the COP.

Annex to the Financial Regulations