Report of the Eighth Meeting of the CGIAR Finance Committee
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Report of the eighth meeting of the CGIAR Finance Committee, held in Washington, DC, on October 28 and November 2, 1995, during International Centers Week 1995. Committee Chair Michel Petit reported on the outcome at the same meeting, and this written report was circulated later for information. The report covered the 1995 and 1996 financing plans, and guidelines for the preparation of the 1997 research agenda. In 1995, the Committee granted a request from CIMMYT to keep proceeds from the devaluation of the Mexican currency, but was unable to compensate CIAT for the cost of revaluation of the Colombian currency. For 1996, the Committee considered the implications of the new financial arrangements, determined an allocation of the World Bank contribution with a small reserve for contingencies, and suggested a planning level of 4%-8% below the financial plan for the year for CGIAR approval at ICW95. The Committee endorsed a process and schedule for the preparation of 1998-2000 plans for the system.