Having heard the report of the secretariat on the issues related to regional project/programmes, the Board decided to: 

(a) Request the secretariat to prepare a revised paper that took into account the comments made during the discussion at the present meeting;

(b) Request the Project and Programme Review Committee (PPRC) to consider the revised paper mentioned above, excluding the issues of the effect of the 50 per cent cap on the MIEs and the granting of an additional US$ 5 million for regional projects;

(c) Request that the Ethics and Finance Committee (EFC) consider the revised paper mentioned above specifically with respect to the issues of the effect of the 50 per cent cap on the MIEs and the granting of an additional US $5 million for regional projects; and  

(d) Taking into account the recommendations of the EFC and the PPRC, consider developing a policy on the approval of regional projects and programmes at its 17th meeting.