International Organizations Authorized Capital Of The Inter-American Development Bank - Increase Of Contribution - Full Text Of The Norm

Original Language Title: ORGANISMOS INTERNACIONALES CAPITAL AUTORIZADO DEL BANCO INTERAMERICANO DE DESARROLLO - AUMENTO DEL APORTE - Texto completo de la norma

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image inicio sitio infoleg MInisterio de Justicia y Derechos Humanos
INTERNATIONAL ORGANIZATIONS

Law 26.745

Approve the increase in the contribution of the Argentine Republic to the authorized capital of the Inter-American Development Bank.

Sanctioned: May 16, 2012

Enacted: June 14, 2012

The Senate and Chamber of Deputies of the Argentine Nation assembled in Congress, etc. sanction with force of Law:

ARTICLE 1 — Approve the increase in the contribution of the Argentine Republic to the authorized capital of the Inter-American Development Bank (IDB) in the sum of US dollars seven thousand five hundred twenty-five million seven hundred sixty thousand two hundred twenty-seven (U$S 7.525.760.227), intended to increase that capital together with the other member countries, in the sum of US dollars seventy billion (U$S 70,000.000) according to the proposed increase

ARTICLE 2 — The aforementioned increase will be represented by the subscription of six hundred twenty-three thousand eight hundred forty-nine (623.849) shares, of which fifteen thousand one hundred and fifty (15.150) shares will correspond to shares of ordinary capital payable in cash and six hundred eight thousand six hundred ninety-nine (608.699) shares will be required shares of ordinary capital, according to the “Model of Instrument of Subscription”, “Anexemption

ARTICLE 3o — The payment of the fifteen thousand hundred and fifty (15,150) shares of ordinary capital payable in cash, for a value of up to US dollars one hundred eighty and two million seven hundred sixty and one thousand one (U$S 182,761.001) will be made in five (5) equal quotas that will be effective on 31 October of the years 2011, 2013, 2014 and 2015, respectively, or on the subsequent dates to be determined by the executive board of the Inter-American Development Bank (IDB) and taking account in the following thirty days.

ARTICLE 4o — The Inter-American Development Bank (IDB) may receive non-negotiable payment or similar values, which do not compromise interest, as provided for in Article V, section 4, of the Constitutive Convention of the said Bank, in replacement of the immediate payment of the total or of any part of the subscription of shares of the regular cash payment capital.

ARTICLE 5o — The subscription of the six hundred and eight thousand six hundred ninety-nine (608.699) required ordinary capital stocks will be made in five (5) annual quotas, the first four (4) for an amount of up to US dollars one thousand four hundred sixty-eight million six hundred two thousand two hundred and seven with ninety and four cents (U$ 1.4682,257.94) each, and the fifth one hundred and ninety-eight hundred.

ARTICLE 6o — Approve the increase in the contribution of the Argentine Republic to the Inter-American Development Bank Special Operations Fund (IDB) in the amount of up to US dollars twenty-six million seven hundred seventy-nine thousand four hundred fifteen (U$S 26,779,415), intended to increase that Fund together with the other member countries, in the sum of US dollars four hundred and nine million (U$S 479,000.000), according to the proposed increase in the "

ARTICLE 7o — The increase to the Special Operations Fund will be made in five (5) annual quotas, each for a value of up to US dollars five million three hundred and fifty and five thousand eight hundred and three (U$S 5,355.883), which will be effective on 31 October of the years 2011, 2012, 2013, 2014 and 2015, respectively, or on the subsequent dates to be determined by the Executive Board of the Inter-American Development Bank (IDB), taking into account that each assessment must be paid within the following days.

ARTICLE 8o — The Inter-American Development Bank (IDB) may receive non-negotiable payment or similar values, which do not compromise interest in the manner provided for in Article V, section 4, of the Constitutive Convention of the Bank, replacing the immediate payment or any part of the country's contribution to each quota.

ARTICLE 9o — Authorize the Central Bank of the Argentine Republic to make, on behalf of and on behalf of the Argentine Republic, the contributions and subscriptions established by this law. The payment of each contribution assessment shall be conditioned on the fact that the percentage of contributions prior to the authorized capital and the Fund for Special Operations that are due is paid at least by member countries in accordance with article II, section 4, subparagraph (c), and article IV, section 3, subparagraph (f) of the Constitutive Convention of the Inter-American Development Bank (IDB).

ARTICLE 10. - In order to comply with the above article, the Central Bank of the Argentine Republic may issue, on behalf of and on behalf of the Argentine Republic, the order of the Inter-American Development Bank (IDB), non-negotiable values that will not accrue interest, payable in view, which will be handed over to the Bank in replacement of cash contributions as stated in the previous articles of this Law and in accordance with the terms of Article V, section 4, of the Inter-American Convention.

ARTICLE 11. - In order to cope with the emerging payments of this law, the Central Bank of the Argentine Republic shall have the corresponding counterpart contributions that will be provided by the Ministry of Public Economy and Finance Ministry of Finance, subject to the inclusion of such erogation in the national administration ' s general budget law for the relevant periods.

ARTICLE 12. - Contact the National Executive.

DADA IN THE SESSION OF THE ARGENTINE CONGRESS, IN GOOD AIRES, TO THE DIECIALS OF THE MONTH OF THE YEAR DOS MIL DOCE.

# 26,745 #

JULIAN A. DOMINGUEZ. - BEATRIZ ROJKES DE ALPEROVICH. - Gervasio Bozzano. — Juan H. Estrada.

Annex I

Annex A

DOCUMENT OF INTERAMERICAN DEVELOPMENT BANCO

RESOLUTION AG-7/10

Report on the Ninth General Increase in Resources of the Inter-American Development Bank

CONSIDERING:

That, on 22 March 2010, the Assembly of Governors adopted the Cancun Declaration (Document AB-2728), thereby agreeing to continue with the Ninth General Increase in Resources of the Inter-American Development Bank and to take the necessary measures to that effect;

That the Executive Board and the Administration have prepared a technical document and the legal instruments necessary for such an increase, entitled “Report on the Ninth General Increase in Resources of the Inter-American Development Bank”, AB-2764 Document (the “Report”); and

That the Executive Board adopted Resolution DE-42/10 by determining that this Draft Resolution attached to the Report shall be submitted for consideration by the Assembly of Governors, through the procedure established in Section 5 of the General Regulations of the Bank on voting without convening a meeting;

The Assembly of Governors

RESUELVE:

1. Adopt the Report; such approval shall include the adoption of the Recommendations defined in Chapter VII of the Report;

2. Recommend that member countries take the necessary and appropriate actions to vote and give effect to resolutions substantially similar to the Draft Resolutions annexed to the Report; and

3. Urging the members of the Bank to vote on those Draft Resolutions and to take the necessary measures to implement the initiatives contained in the Report, including an increase in resources from the Regular Capital, the Special Operations Fund and the Non-Refundable Facility of the IDB, as soon as possible.

Adopted on 21 July 2010

Annex II

Annex B

INSTRUMENT MODEL OF SUSCRIPTION

To the Secretary of the Bank:

I am pleased to inform you that Argentina, by means of the present letter, subscribes 623,849 shares of the Ordinary Capital of the Inter-American Development Bank (the “Bank”), consisting of 15,150 shares of Regular Capital payable in cash and 608,699 shares of required Regular Capital, in accordance with the conditions set out in the Draft Resolution entitled “Augmentation of US$70,000 million in the Regular Capital”.

In addition, Argentina, through the present letter, agrees to pay the amount of US$ 182,761,001, on account of its subscription to the Bank ' s cash payable ordinary capital, through five equal instalments, each in the amount of US$ 36.552,200,11, which will be effective on 31 October of the years 2011, 2012, 2013, 2014 and 2015, respectively, or at the subsequent dates determined by the Executive Board, and in accordance with the above conditions. Each assessment shall be paid within 30 days of the effective date of the assessment.

On behalf and representation of Argentina, I note that all necessary measures have been taken to authorize this subscription, and my commitment that Argentina will provide the Bank with any information that it may wish to request.

Slowly,

______________________
Beloved Boudou
Governor
Inter-American Development Bank
Argentina

Annex III

Annex C

MODEL OF CONTRIBUTION INSTRUMENT

To the Secretary of the Bank:

I am pleased to inform you that Argentina, through the present letter, agrees to make a contribution of US$ 24,797,175 to the Special Operations Fund of the Inter-American Development Bank (the “Bank”), in accordance with the conditions set out in the Draft Resolution entitled “Increase of the Resources of the Special Operations Fund and Contributions thereto”, which is attached as Annex B to the Report contained in document AB-2764, adopted by the Assembly of Governors of 21/10

[INCLUDING ONE OF THE NEXT WORDS]

[The Contribution shall be paid in a contribution of US$ 24,797,175, which shall be effective at the date for the first assessment of the increase in the Special Operations Fund, that is, on 31 October 2011, or at the later date determined by the Executive Board, and in accordance with the other conditions specified in the Draft Resolution. The fee must be paid within 30 days of the effective date of the quota].1

[The Contribution shall be paid in five contributions of US$ 5,355,883 each, to be effective on 31 October 2011, 2012, 2013, 2014 and 2015, respectively, or on subsequent dates determined by the Executive Board, and in accordance with the other conditions specified in the Draft Resolution. Each fee shall be paid within 30 days of the effective date of the corresponding quota].2

[INCLUDING THE NEXT PARK FOR ANTICIPED CONTRIBUTION,

[According to paragraph 7.5 of the Report, Argentina shall make part or all of the above-mentioned Contribution in the form of an advance contribution in the total amount of US$ ________________3in one or more payments, prior to the effective date of the first assessment (i.e., 31 October 2011, or the subsequent date determined by the Executive Board). Without prejudice to the foregoing, the corresponding payment(s) to such Advance Contribution shall be made effective at the time of receipt by the Bank.4

On behalf of Argentina, I declare that all the legal requirements necessary to sign this Instrument of Contribution have been met and to take all the measures specified therein.

Slowly,

______________________
Beloved Boudou
Governor
Inter-American Development Bank
Argentina
______
1 Please include this paragraph if you choose to make a contribution to a quota.

2
Please include this paragraph if you choose to make a contribution in five assessments.

3
If you choose to make an advance contribution in the amount that represents the entire Contribution of Argentina in accordance with paragraph 7.5 (a)(i) of the Report, indicate US$ 24,797,175, or if you choose to make an Anticipated Contribution in the amount that represents the first assessment of Argentina's contribution in accordance with paragraph 7.5 (a)(ii) of the Report, in

4
Please include this paragraph if you choose to make an advance contribution in accordance with paragraph 7.5 of the Report.