SELECTION OF PRODUCTIVE PROJECTS

Decisions on matters pertaining to the selection of productive projects proposed by members of the DAO or members of the Business Consortium, other than those selected at the discretion of the Managing Director shall be subject to the following provisions :

1. In all its decisions with respect to the selection of productive projects, the Agency shall seek to meet the long-term needs of its members and, as and when it arises, to support productive projects in such manner as will promote the attainment of its global purposes. The selection of productive projects shall take into account the format, domain and sector of the project and as special considerations, the financial and socio-economic contribution of the project to the SDGs based on principles consistent with those defined in the provisions of this Agreement and the Business Consortium Protocols as originally adopted and subsequently amended.
   
   

2. Any project proposal made by members of the DAO or members of the Business Consortium shall be communicated to the Managing Director. After having satisfied himself that a proposal is consistent with the provisions of Section (a) of this Schedule, the Managing Director shall conduct such consultations as will enable him to ascertain that there is broad support for the project by bringing the proposal before the members of the DAO.
   
   

3. When a majority of the members of the DAO eligible to vote exercising fifty percent of the total voting power have accepted a project, the Agency shall certify the fact by a formal communication addressed to all members of the Agency, members of the DAO and to the public.