Following a discussion during which several amendments were suggested, and having considered the recommendation of the Ethics and Finance Committee, as amended, the Board decided to:

(a) Request the secretariat to present a preliminary draft of the revisions that might be required of the operational policies and guidelines for consideration by the next Board meeting, incorporating any decisions and/or amendments thus far proposed by the PPRC, EFC and AP; and

(b) Request that the project proponents submit a disbursement schedule with timebound milestones together with the fully developed project document.