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FINANCIAL COMMITMENTS, FLOWS AND ARRANGEMENTS

The discussion on finance (E/CN.17/1993/11 and Add.1) continued with a statement by Egypt who suggested that a high-level expert group of financial experts should look into new sources of funding, such as tradable permits, the polluter-pays-principle and debt-for-nature swaps. Brazil said that the CSD's responsibility is to reverse the trend of shrinking resources. Poland stated that the GEF should treat the economies in transition on an equal basis with other countries eligible for funds. Sri Lanka expressed hope that the CSD will monitor the flow of funds. Venezuela proposed that the Secretariat's reports address distortions and protectionism and added that the CSD must have intergovernmental participation in all intersessional activities. Benin recommended cancelling all public debt for low income countries.

Bolivia stressed the need for a follow-up consultation mechanism that would allow transparent sharing of information on Agenda 21 implementation. Canada supported ad hoc working groups or roundtables to serve a preparatory or advisory function for the CSD. Sweden suggested that OECD DAC guidelines be used for the submission of financial information. Senegal said that the CSD should think about how the GEF should finance the desertification convention. The US said that the CSD should use the information in the OECD database rather than create new bureaucracies. The OECD representative responded that the OECD will give the CSD information from its financial monitoring data systems. The Environmental Liaison Centre International stated that the CSD must address the need for a new policy on foreign debt.