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Global Environment Facility

Global Environment Facility
A government fund resident in the World Bank
1818 H Street, NW, G 6-602 (World Bank building)
Washington, DC 20433 USA
Telephone:  (202) 473-0508
Fax:  (202) 522-3240/3245
E-mail:
gef@gefweb.org
Website: http://gefweb.org/index.html

Description: Established in 1991 as an experimental facility in the World Bank, GEF is now the designated financial mechanism that pays out money for international agreements on biodiversity, climate change, and persistent organic pollutants.
GEF was restructured in 1992 after the Earth Summit in Rio de Janeiro to serve the environmental interests of people in all parts of the world.
In 1994, 34 nations pledged $2 billion in support of GEF's mission. Of that, $1.46 billion was actually paid to GEF during the seven years between its 1991 inception and 1998 (see unaudited financial statement below).
In 1998, 36 nations pledged $2.75 billion to protect the global environment and promote sustainable development.
In 2002, 173 countries participate in GEF.


GEF spent $656,900,000 from its beginning in 1991 to mid-June 1998.

GLOBAL ENVIRONMENT FACILITY
CONSOLIDATED FINANCIAL STATEMENT AS OF JUNE 30,1998

STATEMENT OF ACTIVITIES

Expressed in millions of U.S. dollars

  Year ended
June 30, 1998
March 14, 1991
(inception) to
June 30, 1998
Receipts    
Contributions    
     Cash $21.0 $315.4
     Notes encashed 228.6 1,009.7
Investment income 38.6 143.4
           Total receipts 288.2 1,468.5
Disbursements    
Project disbursements    
     World Bank managed activities 80.5 322.3
     UNDP managed activities 53.4 269.1
     UNEP managed activities 8.3 28.3
     Secretariat managed activities 0.0 1.5
Administrative expenses    
     World Bank managed activities 15.7 92.2
     UNDP managed activities 6.0 36.0
     UNEP managed activities 3.6 14.4

     Secretariat managed activities

8.7 31.5

     Administrative expenses of the Trustee

0.8 4.9

           Total disbursements

177.0 800.2

Excess of receipts over disbursements

111.2 668.3

Net foreign exchange gains/(losses)

0.0 (11.4)

Excess of receipts over disbursements

111.2 $656.9

Cash & investments at beginning of period

545.7 0000

Cash & investments at end of period

$656.9 $656.9

Comprising:

   

                Cash & investment

  $527.0

        Cash & investment not available for disbursement

  $129.9

         

  $656.9

 

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