World Bank Articles of Agreement

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(c) If there is a disagreement between the Bank and a country that is no longer a member of the Bank, or between the Bank and a Member during the permanent suspension of the Bank, such disagreement shall be brought before an arbitral tribunal composed of three arbitrators, one appointed by the Bank, the other by the country concerned and an arbitrator; unless the parties agree otherwise, they shall be appointed by the President of the Permanent International Court of Justice or by any other authority required by a regulation made by the Bank. The arbitrator has full authority to settle a procedural matter in any case where the parties disagree in this regard. Each member may only do business with the bank through its treasury, central bank, stabilization fund or other similar tax authority, and the bank will only negotiate with its members through or through the same agencies. (a) An Advisory Board of at least seven persons, chosen by the Board of Governors, comprising representatives of banking, commercial, industrial, labour and agricultural interests, shall be established and represented with the widest possible level of national representation. In areas where there are specialized international organizations, the members of the Council representative of those fields shall be chosen in agreement with those organizations. The Board advises the Bank on policy issues. The Board shall meet annually and on such other occasions as the Bank may request. (i) Where the member in whose territory the project is located is not itself the borrower, the member or the central bank or a comparable body of the member acceptable to the Bank, it guarantees in full the repayment of the principal and the payment of interest and other charges on the loan. (ii) The Bank is satisfied that, under prevailing market conditions, the Borrower would not be able to obtain the Loan otherwise on such terms as it deems appropriate for the Borrower. (iii) a committee responsible referred to in Article V, Section 7, after careful consideration of the merits of the proposal, has submitted a written report recommending the draft; (iv) The Bank considers that the interest rate and other costs are reasonable and correspond to the project, the costs and the schedule for repayment of the principal; (v) when granting or guaranteeing a loan, the Bank shall take due account of the prospects that the borrower and, if the borrower is not a member, the guarantor will be able to meet its obligations under the loan; and the Bank shall act prudently both in the interest of the member in whose territory the project is located and in the interest of all members.

(vi) By guaranteeing a loan from other investors, the bank receives adequate compensation for its risk. (vii) Loans granted or guaranteed by the Bank shall, except in special circumstances, be used for certain reconstruction or development projects. Thank you for participating in this survey! Your feedback is very helpful to us as we work to improve the functionality of the website on You clicked on a link to a page that is not part of the beta version of the new Before we leave, we`d love to hear your feedback about your experience while you`re here. Do you take two minutes to complete a short survey that will help us improve our website? The ICSID Convention was established by a multilateral agreement and entered into force on October 14, 1966. (b) All loan agreements shall indicate the currency(ies) in which payments are to be made to the Bank under the contract. However, at the choice of the borrowers, such payments may be made in gold or, subject to the consent of the bank, in the currency of a member not provided for in the contract. Each of the World Bank Group organizations operates according to the procedures set out in its Articles of Association or equivalent government document.

These documents describe the conditions of membership and the general principles of organization, management and operation. Thank you for agreeing to provide us with your comments on the new version of; Your response will help us improve our website. (a) Each Member shall designate its central bank as the depositary of all the Bank`s assets in its currency or, if it does not have a central bank, designate the other institution acceptable to the Bank; (b) The Bank may hold other assets, including gold, in custodians designated by the five members holding the largest number of shares, as well as in other designated custodians of its choosing. Initially, at least half of the Bank`s gold holdings shall be held in the depositary designated by the member in whose territory the Bank has its registered office and at least forty per cent shall be held in the depositaries designated by the other four members referred to above, each of which shall be held; initially, no less than the amount of gold paid on the shares of the member he appoints. However, all gold transfers made by the Bank shall be made with due regard to the cost of transport and the expected needs of the Bank. In an emergency, Directors may transfer all or part of the Bank`s gold holdings to any place where they can be adequately protected. (d) In appointing staff and staff, the President shall take due account of the importance of recruiting staff on the widest possible geographical basis, where it is of paramount importance to ensure the highest level of efficiency and technical competence. (g) Each appointed director shall have the right to give the number of votes allocated in accordance with Section 3 to the appointing member. Each elected director has the right to vote on the number of votes counted for his election. All votes that a director is entitled to vote on are cast as a unit. (a) currencies deposited with the Bank in accordance with Article II(7)(i) may be lent only with the consent of the Member whose currency they are concerned; provided, however, that, where appropriate, after the full call of the Bank`s subscribed capital, such currencies are used or exchanged without restriction by the members whose currencies are offered for the purpose of the execution of contractual interest payments, other expenses or repayments on the Bank`s own debts or for the execution of the Bank`s commitments in respect of contractual payments guaranteed by the Bank.

Loans are required. (c) If the project indirectly results in an increased need for foreign currency on the part of the Member in whose territory the project is located, the Bank may, in exceptional circumstances, provide the borrower with a reasonable amount of gold or foreign currency under the loan that does not exceed the borrower`s local expenses in relation to the purposes of the loan. . Actions against the Bank may be brought only in a court of competent jurisdiction in the territory of a Member in which the Bank has its registered office, has appointed a representative to accept service of the proceedings, or has issued or guaranteed securities. However, no action may be brought by members or persons acting on behalf of members or deriving from claims of members. The assets and assets of the Bank, regardless of where they are located and held by anyone, are exempt from any form of seizure, seizure or enforcement prior to the delivery of the final judgment against the Bank. (b) In exceptional circumstances, where the national currency required for the purposes of the loan cannot be borrowed by the borrower on reasonable terms, the Bank may make available to the borrower a reasonable amount of that currency as part of the loan. (ii) who are not nationals enjoy the same immunities with respect to immigration restrictions, alien registration obligations and national service obligations, as well as the same facilities with respect to trade restrictions granted by Members to representatives, officials and agents of comparable rank of other Members; Loan agreements under Section 1(a)(i) or (ii) of this Article shall be concluded in accordance with the following payment provisions: Finally, we have compiled country profiles for all countries that signed the Articles of Agreement of the World Bank on December 27, 1945 and in the following weeks. Each profile contains information about the bank`s involvement in each country, such as . B membership, important “firsts” and links to other historical resources such as photos, reports, oral traditions and more.

Browse below and learn more about each country by giving you an idea of the information available in the World Bank Group`s archives. (a) The Executive Directors shall be responsible for the conduct of the general operations of the Bank and, to that end, shall exercise all the powers conferred on them by the Board of Governors. . (c) Whenever necessary for the performance of contractual payments of interest, other expenses or repayments on its own borrowings or for the settlement of liabilities of the Bank in respect of similar payments on loans guaranteed by it, the Bank may call for a reasonable amount of Members` unpaid subscriptions in accordance with Article II, sections 5 and 7. In addition, if the Bank considers that a long-term default could be of long duration, the Bank may recover an additional amount of such unpaid subscriptions, which, in a year, does not exceed a percentage of the total subscriptions of Members for the following purposes: (a) The Bank may grant loans, participate in or provide guarantees to the International Finance Corporation, an affiliate of the Bank for use in its lending operations. . . .