Mandate (MOU)
5. Determination of funding requirements
5.1 In anticipation of the replenishment of GEF, the Conference of the Parties will make an assessment of the amount of funds that are necessary to assist developing countries, in accordance with the guidance provided by the Conference of the Parties, in fulfilling their commitments under the Convention over the next GEF replenishment cycle, taking into account:
(a) Article 20, paragraph 2, and Article 21, paragraph 1, of the Convention;
(b) Guidance to the financial mechanism from the Conference of the Parties which calls for future financial resources;
(c) The information communicated to the Conference of the Parties in the national reports submitted in accordance with Article 26 of the Convention;
(d) National strategies, plans or programs developed in accordance with Article 6 of the Convention;
(e) Information communicated to the Conference of the Parties from GEF on the number of eligible programmes and projects that were submitted to GEF, the number that were approved for funding, and the number that were turned down owing to lack of resources;
(f) Experience gained by those concerned in the implementation of projects.
5.2 On the occasion of each replenishment, GEF will, in its regular report to the Conference of the Parties as provided for in paragraph 3 of this Memorandum of Understanding, indicate how it has responded during the replenishment cycle to the previous assessment by the Conference of the Parties prepared in accordance with paragraph 5.1 and inform the Conference of the Parties of the conclusion of replenishment negotiations.
5.3 On the basis of the report referred to in paragraph 5.2 of this Memorandum of Understanding the Conference of the Parties will review the amount of funding necessary for the implementation of the Convention, on the occasion of each replenishment of the financial mechanism.
