The memoranda of understanding with certain international financial institutions (World Bank, European Investment Bank) will be fully exploited and contacts will be strengthened with other funding providers (Global Environment Facility and Strategic Investment Fund).

The memoranda of understanding with certain international financial institutions (World Bank, European Investment Bank) will be fully exploited and contacts will be strengthened with other funding providers (Global Environment Facility and Strategic Investment Fund).

iv) Making more effective use of and building upon existing sources of relevant global funding, in particular exploring the scope for further support from the Global Environment Facility and the Montreal Protocol and its multilateral fund;

The institutional structure of the Global Environment Facility, operated in accordance with the Instrument for the Establishment of the Restructured Global Environment Facility, shall, on an interim basis, be the principal entity entrusted with the operations of the financial mechanism referred to in Article 13, for the period between the date of entry into force of this Convention and the first meeting of the Conference of the Parties, or until such time as the Conference of the Parties decides which institutional structure will be designated in accordance with Article 13.

The Council welcomes the agreement to establish a Special Climate Change Fund, a Least Developed Countries Fund and a Kyoto Protocol Adaptation Fund, and looks forward to a positive report from the Global Environment Facility at COP 8 on arrangements for these new funds to ensure that they become operational as soon as possible.

The Council welcomes the new opportunities provided through the Global Environment Facility as a result of CoP4, and reaffirms its intention to fully support the Global Environment Facility in its role as the financial mechanism of the Convention.