ENB:02:12
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PLENARY I
The Plenary met at 12:45 am Saturday morning in an effort to approve the two outstanding issues that remained in Agenda 21: finance and atmosphere. The closed meeting was originally scheduled for 11:00 pm but was delayed due to ongoing consultations on both of these issues. However, when the meeting finally got underway, agreement had not yet been reached.
The Plenary first heard a report from German Federal Minister for the Environment Klaus T”pfer, who coordinated the successful ministerial-level consultations on forests. Then Amb. Rubens Ric£pero delivered a status report on the ministerial-level consultations on finance. He reported that compromise had been reached on paragraph 16(e) on debt relief. Although this text was not originally bracketed by the Main Committee, a reformulation was achieved that resolves problems certain developed countries had with the phrase: "further measures and eligible countries should be kept under review." It was believed that this would expand the list of middle and low income indebted countries eligible for debt relief under the terms of the Trinidad agreement of December 1991. The agreed text adds the sentence, "Measures to address the continuing debt problems of low and middle income countries should be kept under review."; and replaces the original text with, "debt relief measures should be kept under review so as to address the continuing difficulties of those countries."
Ric£pero then reported that after extensive negotiations, they had reached a formulation on paragraph 16(a)(i) on the International Development Association. The new text removes any specific reference to the "Earth Increment" and directs the IDA Deputies to give special consideration to World Bank President Lewis Preston's statement to the UNCED Plenary, "in order to help poorer countries meet their sustainable development objectives as contained in Agenda 21." On 4 June, Preston proposed an additional volume of resources for the IDA-10 replenishment (1993-95) in order to maintain IDA-9 funding in real terms and, if donors support such an initiative, re-allocate part of the World Bank's net income to the Earth Increment for national environmental issues. This reformulation removes language in Agenda 21 that some developed countries believed would foreclose and prejudice the IDA-10 replenishment negotiations currently underway in another fora.
Lafer then announced that consultations on other matters relating to finance (ODA targets) and atmosphere were proceeding and that he was confident that the "Spirit of Rio" will prevail and a consensus formula would be reached soon. At this point Pakistan, on behalf of the G-77, requested time to study the IDA proposal. He said that although it has considerable merit, essential elements are missing in this formulation and he would, therefore, have to convene a G-77 meeting. Lafer then adjourned the meeting at 1:15 am.