Selected Decisions and Documents - International Seabed Authority

from interest accrued from the Endowment Fund to supplement the voluntary trust fund in 2009 (see
ISBA/14/A/8). Pursuant to such authorization, the sum of $20,000 was transferred to the voluntary trust fund
on 31 December 2008
34. As at 1 March 2009, the balance of the voluntary trust fund stood at $77,675, including accrued
interest of $6,492. The total amount paid out of the fund to date is $192,135.
D. Endowment Fund for Marine Scientific Research in the Area
35. The International Seabed Authority Endowment Fund for Marine Scientific Research in the Area was
established by the Assembly in 2006 (see ISBA/12/A/11). The purpose of the Fund is to promote and
encourage the conduct of marine scientific research in the Area for the benefit of mankind as a whole, in
particular by supporting the participation of qualified scientists and technical personnel from developing
countries in marine scientific research programmes and by providing them with opportunities to participate
in international technical and scientific cooperation, including through training, technical assistance and
scientific cooperation programmes.
36. In accordance with the decision of the Assembly, the initial capital of the Endowment Fund consisted
of the balance remaining as at 18 August 2006 from the application fees paid by the registered pioneer
investors, under resolution II of the Third United Nations Conference on the Law of the Sea, to the
Preparatory Commission for the International Seabed Authority and for the International Tribunal for the Law
of the Sea, pursuant to paragraph 7 (a) of resolution II, together with interest accrued thereon. Additional
contributions to the Fund may be made by the Authority, members of the Authority, other States, relevant
international organizations, academic, scientific and technical institutions, philanthropic organizations,
corporations and private persons. Since its establishment, additional contributions to the Fund have been
made by the Governments of Mexico ($2,500), Spain ($25,514) and the United Kingdom ($29,800). As at 31
December 2008, the capital of the Fund stood at $2,689,603, with accumulated interest of $289,022.
37. In 2007, the Assembly, on the recommendation of the Finance Committee, adopted detailed rules
and procedures for the administration and utilization of the Endowment Fund (see ISBA/13/A/6, annex). They
provide detailed guidance on the process for making applications for assistance from the Fund, the
information that must be submitted, the type of activities that may be eligible for funding and the
dissemination and reporting of the outcomes of marine scientific research programmes and scientific
cooperation programmes. Applications for assistance from the Fund may be made by any developing country
or by any other country if the purpose is to benefit scientists from developing countries. There is to be an
advisory panel appointed by the Secretary‐General to evaluate applications for assistance from the Fund. The
panel is composed of: (a) permanent representatives to the Authority; (b) representatives of educational
institutions or organizations of an international character; (c) individuals closely associated with the work of
the Authority. The members of the panel are to be appointed with due regard to equitable geographic
representation. In accordance with the guidelines, the first appointments to the panel were made by the
Secretary‐General in March 2008. The names of the persons appointed to the panel as at 1 March 2009 are
contained in the annex to the present report.
38. The Fund is administered by the secretariat of the Authority, which is required to endeavour to make
arrangements with universities, scientific institutions, contractors and other entities for opportunities for
scientists from developing countries to participate in marine scientific research activities. Such arrangements
shall include arrangements for the reduction or waiver of fees for training. Since February 2008, the
secretariat has carried out a number of activities designed to draw the attention of the international donor
community to the opportunities offered by the Fund and to encourage additional contributions. These
include the issue of a press release and related promotional materials, the launch of a specially designed area
on the Authority’s website at www.isa.org.jm/en/efund, and the establishment of a network of cooperating
institutions that may be interested in offering places on courses or research opportunities. Among the
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