1. Decides to adopt the policy, strategy, programme priorities and eligibility criteria for access to and
utilization of financial resources contained in annex I to this decision, and the list of developed country Parties
and other Parties which voluntarily assume the obligations of developed country Parties contained in annex II to
2. Decides also that the restructured Global Environment Facility (GEF) shall continue to serve as the
institutional structure to operate the financial mechanism under the Convention on an interim basis, in
accordance with Article 39 of the Convention;
3. Decides to instruct the restructured Global Environment Facility to take prompt measures to support
programmes, projects and activities consistent with the policy, strategy, programme priorities and eligibility
criteria for access to and utilization of financial resources contained in annex I to this decision;
4. Authorizes the Secretariat, on behalf of the Conference of the Parties (COP) and taking account of
the views of participants in the first meeting of the Conference of the Parties, which should be provided in
writing by 1 February 1995, to consult with the restructured Global Environment Facility on the content of a
memorandum of understanding which should be formally considered at the second meeting of the Conference of
5. Decides, pending the adoption of the memorandum of understanding, to adopt the interim guidelines
for monitoring and evaluation of the utilization of financial resources by the restructured Global Environment
Facility contained in annex III to this decision;
6. Requests the Secretariat to present to the Conference of the Parties at its second meeting, a report on
the financial mechanism, in order that decisions can be adopted by the Conference of the Parties at its second
meeting, on the timetable and nature of the review required in Article 21, paragraph 3 of the Convention;
7. Requests also the Secretariat to present to the Conference of the Parties at its second meeting, a
study on the availability of financial resources additional to those provided through the restructured Global
Environment Facility, and on the ways and means for mobilizing and channeling these resources in support of
the objectives of the Convention, taking into account the views expressed by participants on the subject at the
Conference of the Parties at its first meeting;
8. Further requests the Secretariat to include items on the agenda of the Conference of the Parties at its
second meeting, which would enable the latter to review the financial resources and, bearing in mind Article 39
of the Convention, to take a decision at that meeting on which institutional structure shall be designated in
accordance with Article 21 of the Convention.
Financial resources should be allocated to projects that fulfil the eligibility criteria and are endorsed and
promoted by the Parties concerned. Projects should contribute to the extent possible to build cooperation at the
sub-regional, regional and international levels in the implementation of the Convention. Projects should
promote utilization of local and regional expertise. The institutional structure should over time assist all eligible
countries to fulfil their obligations under the Convention. Policy and strategy may be revised, as necessary, by
the Conference of the Parties.
Only developing countries that are Parties to the Convention are eligible to receive funding upon the
entry into force of the Convention for them. In accordance with the provisions of the Convention, projects that
seek to meet the objectives of conservation of biological diversity and sustainable use of its components are
eligible for financial support from the institutional structure.
1. The conservation of biological diversity and sustainable use of its components is one of the key elements
in achieving sustainable development and therefore contribute to combating poverty.
2. All the actions contemplated in the Convention will have to be carried out at the national and
international level, as appropriate. However, for the purpose of giving direction to the interim structure
operating the financial mechanism, a list of programme priorities is given in paragraph 4 below. The list may
be revised by the Conference of the Parties, as necessary.
3. Programme priorities should promote utilization of regional and local expertise and be flexible to
accommodate national priorities and regional needs within the aims of the Convention.
4. The programme priorities are as follows:
1. The Conference of the Parties (COP) to the Convention on Biological Diversity decides to instruct the
restructured GEF to prepare and submit through the Convention Secretariat an annual report on its operations
in support of the Convention.
2. The report should include specific information on how it has applied the guidance and decisions of the
COP in its work related to the Convention. This report should be of a substantive nature and incorporate the
programme of future activities of the restructured GEF in the areas covered by the Convention and an analysis
of how the restructured GEF, in its operations, implemented the policy, strategy, programme priorities and
eligibility criteria related to the Convention which have been adopted by the COP.
3. In particular, the report should provide information on the following:
4. In order to meet the requirements of accountability to the COP, reports submitted by the restructured
GEF should cover all its activities carried out in implementing the Convention, whether decisions on such.activities are made by the GEF Council or by the implementing agencies. To this end, it shall make
arrangements with such bodies as might be necessary regarding disclosure of information.