 Last year, at the COP in Cancun, Mexico, parties agreed to establish the Green Climate Fund, a new fund which should become a significant actor for climate finance. They also entrusted a transitional committee with its design. The committee consisted of 25 developing countries and 15 developed countries. Together with Minister Traver Manuel from South Africa and Ernesto Cordero from Mexico, I had the privilege of co-chairing the work of the transitional committee. Let me start off by saying that our work was guided by the principles of inclusiveness and transparency. All the meetings and workshops of the committee were open to service and of service contributed actively to what is now the proposed design of the fund. At the final meeting in Cape Town here in South Africa in October, the committee agreed to submit a draft governing instrument to the conference of the parties for its consideration and approval here in Dublin. So if approved, the Green Climate Fund will be launched here at COP 17 in Dublin. Let me say a few words about the main features and novelties of our proposed design of the fund. Firstly, the fund will be tasked to finance climate actions in developing countries for adaptation and litigation, including red glass. Secondly, the fund will be funded by developed countries but may also receive funding from other public and private sources, including alternative sources. Thirdly, the fund will aim to mobilize the private sector in the back against climate change. And finally, one of the important novelties of the fund will facilitate direct access to resources through national, regional and international implementing agencies. It will also add that the future board of the Green Climate Fund will be entrusted to take important decisions about the funds and future structure. As an example, the draft instrument clearly states that RUT Plus will be eligible for financing through the Green Climate Fund. And the board will decide on how these resources be prioritized and allocated. Basically, I believe that the transitional committee within a limited amount of time managed to make substantial progress and find good middle ground solutions to other issues that we all know are difficult in these climate negotiations. So parties here in Durban now have before them a delicately balanced proposal for the design of the Green Climate Fund, a proposal that provides a good basis for establishing a fund that can channel and catalyze substantial economic resources for climate actions, adaptation, mitigation, including RUT Plus in developing countries, in line with what we all have and visioning. Once the fund is launched, we must start the important process of funding the fund. An empty fund is a little use. It's also very important, I believe, that we get in place a competent and well-functioning board for the fund, particularly in this first critical period, so that the Green Climate Fund can earn the trust of both developed and developing countries and grow over time and evolve and really become the main global fund for climate finance. In order to get there, we first need to launch it. And we have an historic opportunity here in Durban to do just that. So I hope that the parties of this conference will seize that opportunity. Thank you.