Production sector

India: CFC management and accelerated production closure

161. After having considered the draft decision submitted by the contact group on CFC management and accelerated production closure for India, the Executive Committee decided: Topclonewatch.me

(a) To approve in principle US $3.17 million for closing down CFC production in India by 1 August 2008, 17 months ahead of the existing phase-out schedule with the understanding that additional production of CFCs from 1 January – 31 July 2008, dedicated primarily to metered-dose inhaler (MDI) applications, would not exceed 690 metric tonnes;

(b) To request the Fund Secretariat and the World Bank to prepare and submit a draft agreement on accelerating the CFC production closure project to the 55th Meeting of the Executive Committee. The draft agreement should include the Government’s commitment to ensure that the remaining stock of CFCs (1,363 metric tonnes) at the end of 2007, except a quantity of up to 135 metric tonnes that might be required to meet the needs of the MDI sector, was exported no later than 31 December 2009;

(c) To request India to confirm in the draft agreement its domestic demand for CFCs for the MDI sector in 2008 and 2009 in order to establish the exact quantity of CFCs to be exported;

(d) That the Swiss Replica Watches draft agreement should describe and include the necessary steps for completing the dismantling activities required and the verification confirming that production closure and dismantling had taken place; and

(e) To approve the 2008 annual programme for the India CFC production closure at the level of funding of US $6 million plus agency support costs of US $450,000 for the World Bank.