WHC/7
UNITED NATIONS EDUCATIONAL, SCIENTIFIC AND CULTURAL ORGANIZATION
CONVENTION
CONCERNING THE PROTECTION OF THE
WORLD CULTURAL AND NATURAL HERITAGE
Financial Regulations for the World Heritage Fund
Article 15 of the Convention concerning the Protection of the
World Cultural and Natural Heritage (hereinafter referred to as "the
Convention"), establishes a Fund, called "the World Heritage Fund"
hereinafter referred to as "the Fund" which is to constitute a trust
fund, in conformity with the provisions of the Financial Regulations of
Unesco. Consequently, in accordance with Regulation 6.7 of the
Financial Regulations of the Organization, the Director-General has
established the following special financial regulations to govern the
operations of this Fund.
1. Purpose of the Fund
1.1. The purpose of this Fund shall be to receive contributions from
the sources indicated in 3.1 below and to make payments
therefrom, to assist in the protection of properties forming part
of the World Cultural and Natural Heritage of Outstanding
Universal Value in accordance with the terms of the Convention
and of the present Regulations.
2. Financial period of the Fund
2.1. The financial period shall be two consecutive calendar years
coinciding with the financial period of the Regular Budget of
Unesco.
3. Provision of funds
3.1. The resources of the Fund shall consist of :
(a) contributions made by the States Parties to the Convention,
in accordance with its Article 16 ;
(b) contributions, gifts or bequests which may be made by :
i) other States ;
ii) the United Nations Educational Scientific and
Cultural Organization, other organizations of the
United Nations system, particularly the United
Nations Development Programme or other
intergovernmental organizations ;
iii) public or private bodies or individuals ;
(c) any interest due on the resources of the Fund ;
(d) funds raised by collections and receipts from events
organized for the benefit of the Fund ; and
(e) any other resources acceptable to the World Heritage
Committee.
3.2. As stipulated in Article 16 of the Convention, the contributions
of States which have not made the declaration referred to in
paragraph 2 of that Article shall be made according to the scale
of assessments determined every two years by the General Assembly
of States Parties to the Convention.
3.3. The method and the procedure for the payment of all contributions
of States Parties are those determined by the first General
Assembly of States Parties to the Convention.
4. Expenditure
4.1. The resources of the Fund may be used only for such purposes as
the World Heritage Committee shall define and may take the
following form:
(a) studies concerning the artistic, scientific and technical
problems raised by the protection, conservation,
presentation and rehabilitation of the cultural and natural
heritage, as defined under the terms of the Convention :
(b) provision of experts, technicians and skilled labour to
ensure that the approved work is correctly carried out ;
(c) training of staff and specialists at all levels in the
field of identification, protection, conservation,
presentation and rehabilitation of the cultural and natural
heritage ;
(d) supply of equipment which the State concerned does not
possess or is not in a position to acquire ;
(e) low-interest or interest-free loans which might be
repayable on a long-term basis ;
(f) the granting, in exceptional cases and for special reasons,
of non-repayable subsidies.
4.2. Expenditure shall be made within the limits of funds available.
4.3. The undisposed balance of the Fund may be carried forward from
one financial period to the next.
5. Reserve Fund
5.1. There shall be established a reserve fund to meet requests for
assistance resulting from disasters or natural calamities, as
foreseen under Article 21 (2) of the Convention. The amount of
the reserve fund which shall be credited with transfers from "the
World Heritage Fund" shall be determined from time to time by the
Director-General.
6. Accounts
6.1. The Director-General shall maintain such accounting records as
are necessary and shall include in his annual financial report
accounts showing for the financial period to which they relate
the receipts and disbursements of the Fund.
6.2. The annual accounts of the Fund shall be presented in dollars of
the United States of America. Accounting records may, however, be
kept in such currency or currencies as the Director-General may
deem necessary.
6.3. The annual accounts shall be submitted by the Director-General
for audit to the External Auditor of Unesco.
6.4. The accounts shall be submitted by the Director-General to the
General Assembly of States Parties to the Convention.
7. Custody of Funds
7.1. The Director-General shall designate the bank or banks in which
the resources of the Fund shall be kept.
8. Investment of funds
8.1. The Director-General may make short-term investment of sums
standing to the credit of the Fund.
8.2. Interest earned on these investments shall be credited to the
Fund.
9. General Provisions
9.1. Except as provided for in the above Regulations, the Fund shall
be administered in accordance with the Financial Regulations of
Unesco.