TNAG-0626-FCO40-774-Representation-of-United-Nations-Economic-and-Social-Commiss-1977 — Page 15

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17.

It was further brought to the notice of the Meeting that UNDP had

agreed, in principle, to extend its financial assistance to the project for

another year, with a view to covering the first running expenses of the proposed

corporation, namely the salary of its general manager and the expenditure for

the first meeting of its council. This assistance would secure adequate

financing of the preparatory work until the moment when the corporation became

operational and started receiving an inflow of reinsurance premiums. In the opinion of the Meeting, this should be fixed tentatively for 1 January 1978, the date on which the shares should also be subscribed and paid up.

18.

In connexion with the management expenses of the proposed corporation

at its initial stage, one representative indicated that his country might be able to second to the corporation, at the expense of its own national reinsurance institution, one staff member of considerable technical skill in the field of

reinsurance. This offer was very well received by all the participants. It

was decided that such offers should be put before the council at its first meeting (presumably in June 1977) where final decisions would be taken.

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