ratified and paid their contributions to the base fund of the
COMESA Fund, with the proviso that the board of Governors
may be modified to include investors into the CIF as
appropriate;
IT IS HEREBY NOTIFIED that the COMESA Council of Ministers at
its Thirtieth Meeting held on 15 October 2011 at Lilongwe, Malawi
issued the following Legal and General Notices:
Legal and General Notices Issued by the Council
(d) That the interim investment committee be constituted by
Rwanda, Zimbabwe, Mauritius as the COMESA Fund
Bureau plus Kenya and Zambia, with the proviso that for the
smooth functioning of the governance structure, account will
be taken to have a rotational system. In order to ensure
continuity, at least two members would be maintained at
each rotation;
SIMPLIFIED TRADE REGIME (STR)
(e) That transaction advisors should be recruited to assist with
the capital raising process;
LEGAL AND GENERAL NOTICES
Decisions
1. Council made the following decisions:
(f) Authorised the borrowing of US $528,550 from the Base
Fund to meet the costs of recruiting the transaction advisors,
and that this amount be repaid to the COMESA Fund from
capital raised. The timing of the repayment will be
determined by the CIF Board of Governors;
(a) Endorsed the ministerial decisions on the Simplified Trade
Regime; and
(b) Decided that best practices in the region should be used in
further improving the STR in future reviews, in order to
promote better harmonisation at the Tripartite level.
(g) That linkages should be established between the Climate
Change Fund and the CIF;
(h) That Member States that had not made their contributions to
the COMESA Fund do so;
COMESA FUND MINISTERIAL COMMITTEE
(i) That the CEO should update and submit a priority pipeline of
projects for floating and exploring financing for such projects
under the Aid for Trade framework.
The COMESA Infrastructure Fund (CIF)
Decisions
2. Council made the following decisions:
COMESA Adjustment Facility
Decisions
3. Council made the following decisions:
(a) Adopted the CIF 2011 work programme;
(b) Adopted the budget attached to the work programme;
(a) That a meeting involving the National Authorising Officers
(NAOs) be convened before the finalisation of the Mid Term
Review (MTR); and
(c) That the composition of the Board of Governors of the CIF
comprising of Ministers of Finance of countries that have
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