A/HRC/43/66 VI. Proposed courses of action 48. Below are proposals for utilizing non-repatriated illicit funds, with a view to supporting the achievement of the Sustainable Development Goals, that emerged from the meeting of experts in October 2019. Each proposal entails certain risks and challenges. In view of the intricacy of the subject, financial specialists must be consulted to evaluate the nature of the investments and their modalities and to conduct an assessment of the risks involved in reaching the desired results. Proposal A: creation of a special fund in the country of origin 49. The first step in exploring the possibility of utilizing the illicit funds which have not been repatriated is identifying those funds in the country of destination. They may already have been identified, if there has been a request from the country of origin under a mutual legal assistance agreement between the two countries. Otherwise, as exemplified under the Foreign Illicit Assets Act of Switzerland, the initiative could also emanate from a country of destination that wants to be a clean financial centre or to safeguard its interests. 50. Under this procedure, assets pertaining to illicit funds, especially in the case of dictators who have absconded, who have passed away or who have been imprisoned, may be frozen through an administrative procedure or through a judicial procedure that is not conviction based. If there are criminal proceedings, it is likely that they will be protracted, but if there is cooperation between the authorities of the two countries, there may be speedier civil proceedings for freezing the assets to prevent them from being transferred out of the country and, ultimately, for enabling their utilization for the benefit of the citizens of the country of origin. 51. The country of destination should be in a position to permit the utilization of such illicit funds first so that they do not lie dormant and unproductive and so, in addition, they may be beneficial to the country of origin in reaching the Sustainable Development Goals by 2030. 52. The funds may be transferred to the country of origin by the ministry of finance, ministry of financial affairs or central bank of the country of destination. There must be a precondition, however, that the transferee will not put the funds into the consolidated fund or annual budget of the Government. A special fund should be created for the utilization of the money. 53. A separate board of management should be set up consisting of representatives from the public sector, including the central bank, and the private sector to decide on the use and allocation of the funds. The funds will be in the nature of a solidarity fund reserved for social projects to improve the living conditions of the population, especially those who are living in poverty. Proposal B: creation of a fund of funds 54. One type of market-based re-empowerment scheme through which the nonrepatriated assets could be revalued and reactivated monetarily and financially is the creation of a fund of funds in which each country of origin concerned would participate. The advantages of such a mechanism are manifold and include: (a) Portfolios made of diverse assets from investments in bonds and equities, direct investment in different sectors, and indirect investment through a multitude of channels, such as asset management funds, private equity funds, hedge funds, payment funds, environmental funds, social funds and governance funds; (b) Distribution of risk, which reduces the probability of losses and increases the opportunities of profit. 55. Countries of destination would entrust non-repatriated illicit funds to the newly created fund for investment. The other participants could be the Governments of the 10