The Group adjourned their meetings scheduled for Thursday as several countries expressed concern at having two of its informal working groups meeting concurrently with Working Group II.
INFORMAL WORKING GROUP ON THE FINANCIAL MECHANISM: The Group, which is addressing the financial mechanism and institutional structure, began by discussing the Secretariat's draft report on discussion of the same. The Chairman distributed a paper, "Programme Priorities," which listed six programme priorities in accordance with Art. 21 (2) of the CBD. It calls for the COP, at its first meeting, to determine programme priorities for access to and utilization of the financial resources under the Convention. Agreement could only be reached on two of the points. These identified national priority projects intended to achieve the objectives of the Convention, and sustainable development as programme priorities. Several developing countries supported the other proposals, however, some developing countries objected to a more specific list.