Agreement Establishing The Bank

/Agreement Establishing The Bank

Agreement Establishing The Bank

If the agreement referred to in the preceding paragraph has not been concluded within six months of the end of the accession of the country or at another time on which the bank and that country can agree, the buy-back price of that country`s capital stock shall correspond to its book value, in accordance with the bank`s accounts; The day the country is no longer a member. This redemption is subject to the following conditions: in the event of a disagreement between the bank and a country that is no longer a member, or between the bank and a member following the adoption of a decision to cease the bank`s activity, this disagreement is the subject of an arbitration procedure by a court composed of three arbitrators. One of the arbitrators shall be appointed by the Bank, the other by the country concerned and the third, unless otherwise agreed by the parties, by the Secretary-General of the Organization of American States. If all efforts to reach unanimous agreement fail, decisions will be made by a majority of the three arbitrators. the Bank applies sound banking principles to all its operations; by transferring or co-financing with multilateral institutions, commercial banks or other interested sources, or by participating in private sector enterprises, by lending to state-owned enterprises that operate competitively and participate in the market-oriented economy, and by lending to any public enterprise to facilitate its transition to private ownership and private control; in particular to facilitate or strengthen the participation of private and/or foreign capital in such enterprises; conclude cooperation agreements with public or private institutions or institutions. 2. Special funds accepted by the Bank may be used in any manner and on any terms that correspond to the object and functions of the Bank, other applicable provisions of this Agreement and the agreement or arrangements relating to such funds. For the purposes of this Article, the Bank may conclude technical assistance agreements with other national or international public or private institutions. to borrow and, in this context, to provide the guarantees or other securities fixed by the Bank for that purpose, provided that the bank has obtained the agreement of that country and of the Member in whose currency the liabilities are denominated before selling its liabilities on the markets of a country. In addition, in the case of borrowings of funds to be incorporated into the Bank`s regular own resources, the Bank obtains the agreement of those countries so that the proceeds can be fully exchanged for the currency of another country; using special funds in accordance with the agreements that determine their use; Any Governor who does not participate in the elections or whose vote does not contribute to the election of a Director in accordance with Section A or Section B(i), or Section B(ii) or Section B(iii) of this Annex may allocate the votes due to him to an elected Director; provided that this governor has first obtained the agreement of all the governors who have elected this director for this mission.

1. Each member shall designate its central bank or any other institution agreed with the Bank as the custodian of all the Bank`s assets in its currency and of other assets of the Bank. Each member shall designate its central bank as the depositary with which the Bank may hold its assets in the currency of that member and other assets of the Bank. .

By |2021-09-09T12:06:34+00:00wrzesień 9th, 2021|Bez kategorii|0 Comments

About the Author: