INSTRUMENT FOR THE ESTABLISHMENT
OF THE RESTRUCTURED
GLOBAL ENVIRONMENT FACILITY

Preamble

I. Basic Provisions

II. Contributions and Other Financial Provisions for Replenishment

III. Governance and Structure

IV. Principles of Decision-Making

V. Relationship and Cooperation with Conventions

VI. Cooperation with Other Bodies

VII. Operational Modalities

VIII. Reporting

IX. Transitional and Final Provisions

ANNEXES

A: Notification of Participation and Termination of Participation

B: Role and Fiduciary Responsibilities of the Trustee of the GEF Trust Fund

C: GEF Trust Fund: Financial Provisions for Replenishment

D: Principles of Cooperation among the Implementing Agencies

E: Constituencies of the GEF Council

PREAMBLE

Whereas:

(a) The Global Environment Facility (GEF or the Facility) was established in the International Bank for Reconstruction and Development (IBRD or World Bank) as a pilot program in order to assist in the protection of the global environment and promote thereby environmentally sound and sustainable economic development, by resolution of the Executive Directors of the World Bank and related interagency arrangements between the United Nations Development Programme (UNDP), the United Nations Environment Programme (UNEP), and the World Bank;

(b) In April 1992, Participants in the GEF agreed that its structure and modalities should be modified. Agenda 21 (the action plan of the 1992 United Nations Conference on Environment and Development), the United Nations Framework Convention on Climate Change and the Convention on Biological Diversity subsequently called for the restructuring of the Facility;

(c) Representatives of the States participating at present in the Facility and of other States wishing to participate in it have requested that the Facility be restructured in order to take account of these developments, to establish the GEF as one of the principal mechanisms for global environment funding, to ensure a governance that is transparent and democratic in nature, to promote universality in its participation and to provide for full cooperation in its implementation among UNDP, UNEP and the World Bank (together referred to hereinafter as the Implementing Agencies), and to benefit from the evaluation of experience with the operation of the Facility since its establishment;

(d) It is necessary to replenish the resources for these purposes under a restructured Facility which includes a new GEF Trust Fund on the basis of this Instrument;

(e) It is desirable to terminate the existing Global Environment Trust Fund (GET) and to transfer any funds, receipts, assets and liabilities held in it upon termination to the new GEF Trust Fund;

(f) The Implementing Agencies have reached a common understanding of principles for cooperation as set forth in the present Instrument, subject to approval of their participation by their respective governing bodies;

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