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financial mechanism [Global Index]


ARTICLE-11: FINANCIAL MECHANISM     [go to this ARTICLE]
... FINANCIAL MECHANISM ...
... 2. The financial mechanism shall have an equitable and balanced representation of all Parties within a transparent system of governance. ...
... 3. The Conference of the Parties and the entity or entities entrusted with the operation of the financial mechanism shall agree upon arrangements to give effect to the above paragraphs, which shall include the following: ...
... 4. The Conference of the Parties shall make arrangements to implement the above- mentioned provisions at its first session, reviewing and taking into account the interim arrangements referred to in Article 21, paragraph 3, and shall decide whether these interim arrangements shall be maintained. Within four years thereafter, the Conference of the Parties shall review the financial mechanism and take appropriate measures. ...


ARTICLE-21: INTERIM ARRANGEMENTS     [go to this ARTICLE]
... 3. The Global Environment Facility of the United Nations Development Programme, the United Nations Environment Programme and the International Bank for Reconstruction and Development shall be the international entity entrusted with the operation of the financial mechanism referred to in Article 11 on an interim basis. In this connection, the Global Environment Facility should be appropriately restructured and its membership made universal to enable it to fulfil the requirements of Article 11. ...