India to get $82 million to help phase out CFCs
Copyright 2000 Reuters
June 30, 2000
NEW DELHI, June 30 (Reuters) -- India will get an $82 million grant to gradually phase out the production of ozone depleting substances such as chlorofluorocarbons (CFCs) in the country, the government said in a statement on Friday.
"This is the total funding that would be available to India from the Multilateral Fund for cessation of production of ozone depleting substances for the implementation of the Montreal Protocol," the statement said.
India is currently the chairman of the executive committee of the Montreal Protocol which commits its signatories to phasing out CFCs -- often used in refrigerators -- and other chemicals by certain dates.
The statement said the project, which will be implemented through the World Bank, will provide financial compensation for CFC-producing enterprises to meet annual production ceilings agreed to by India and the executive committee of the Montreal Protocol Multilateral Fund.
It said CFC production in India in 1999 did not exceed 22,588 tons and will be phased out in 2010.
The statement added that India's per capita ozone depleting substances consumption is less than three grams and did not cross 20 gm between 1995 and 1997 against the 300 gm permitted under the Protocol.