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FINANCIAL COMMITMENTS, FLOWS AND ARRANGEMENTS

The Secretary-General's reports on this agenda item (E/CN.17/1993/11 and Add.1), provide information on initial financial commitments, financial flows and arrangements to give effect to the decisions of UNCED from all available funding sources and mechanisms. The report analyzes the agreement for the 10th replenishment of the International Development Association (IDA), discusses various issues related to the Global Environment Facility (GEF) and its restructuring and replenishment, and addresses recent developments with regard to enhancing the flows of official and private capital to developing countries and debt relief. Add.1 reviews information provided by governments, including official development assistance (ODA) levels, debt relief, aid priorities, main activities and funding relevant to sustainable development and specific contributions to environmental conventions.

The Plenary debate on finance highlighted many of the same concerns expressed during the UNCED process: GEF restructuring and replenishment; sources for the financial resources necessary to implement Agenda 21; ODA levels; debt; commodity prices; conclusion of the Uruguay Round of GATT and the elimination of protectionist trade policies; the need for a climate conducive to foreign direct investment; IDA replenishment; and how to address the needs of the countries with economies in transition.