Document Summary


Decision B.3/5

Following a discussion the Board decided:
a)      That the monetization programme should commence as early as practicable, in principle within the first quarter of 2009; and
b)      To request the Trustee to:
i)                    Prepare draft monetization programme guidelines, consistent with paragraph 28 of decision 1/CMP.3, for consideration and approval by the Board at its fourth meeting;
ii)         Plan a significantly-sized inaugural transaction based on option two as discussed by the Adaptation Fund Board, which would entail including all eligible buyers, execution through dealers, and market clearing prices; and
 iii)        Develop a communications strategy for the inaugural transaction, in consultation with the monetization committee, with the support of the Secretariat.



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