text: activities of the Centre since the fifteenth session of the Commission. He noted that the Centre had begun the implementation of its work programme for the biennium 1990-1991 after the serious reduction of staff resources which was effected in 1989. That reduction had undermined the Centre's capacity to meet the diversified and complex objectives of its mandate. The Executive Director emphasized that further expansion of the mandated activities required more intensive efforts to maintain effective co-ordination with other entities and organizations of the United Nations system and outside the system that undertake work of relevance to the work of the Commission and the Centre. In that regard, he gave examples of the Centre's fruitful co-operation with the International Monetary Fund, the World Bank, the Organisation for Economic Co-operation and Development and the European Economic Community. He also reported on the major research, information and technical co-operation projects completed since the fifteenth session of the Commission. The Executive Director remarked that in three years the Commission would be considering the Fifth Survey on Transnational Corporations in World Development. He welcomed suggestions by delegations of issues warranting attention in that comprehensive quinquennial study. 123. The Executive Director expressed gratitude to those Governments that had provided resources to the Centre's extrabudgetary funds. He expressed concern that though there had been an increase in the number of pledges, there had been a substantial decrease in the level of donor contribution. He noted with appreciation that in 1989, despite a considerable loss in resources because of staff reductions, the joint units with the regional commissions had made important contributions to meeting the objectives of the United Nations programme on transnational corporations, particularly in the preparation of the Directory on Foreign Direct Investment, research on transnational banks and transnational corporations and environmental management. 
analysis: The text discusses the activities and challenges of the Centre, which seems to be focused on economic and business-related issues, such as transnational corporations, foreign direct investment, and environmental management. The text also mentions cooperation with international organizations and the preparation of directories and research projects. These topics suggest that the Centre is involved in issues related to economic development and international trade.