CONVENTION
Law 26.887
Approve the Convention between the Argentine Republic and the Andean Corporation for the Promotion of Subscription of Actions of Regular Capital.
Sanctioned: September 11, 2013 Promulgated: September 20, 2013 The Senate and Chamber of Deputies of the Argentine Nation assembled in Congress, etc. sanction with force
Law:
ARTICLE 1 — Approve the provisions of the “B” Series “Subscription of Actions” Agreement signed between the ARGENTINA REPUBLIC and the ANDINA DE FOMENTO CORPORATION (CAF) signed in the Autonomous City of Buenos Aires on March 2, 2012 and in the City of Caracas, on March 6, 2012, which consists of eight (8) Clauses, whose authenticated copy forms part of the present law. The ARGENTINA REPUBLIC agreed to subscribe sixteen thousand ninety-six (16,096) nominative actions of the “B” series corresponding to the Ordinary Capital of the aforementioned Corporation, each with a heritage value of US dollars fourteen thousand two hundred (U$S 14.200). The total amount of the contribution is US dollars two hundred twenty-eight million five hundred sixty-three thousand two hundred (U$S 228.563.200), payable in four (4) consecutive and equal annual quotas, each equivalent to an amount of US dollars fifty-seven million one hundred forty thousand eight hundred (U$S 57.140.800), corresponding to four thousand twenty-four (4.024) shares of the “B” Series. It should be noted that each of the payments should be made before the 30th of September of each calendar year (2013, 2014, 2015 and 2016). The last payment may not be made beyond 30 September 2016.
ARTICLE 2° — Authorize the BANCO CENTRAL DE LA REPUBLICA ARGENTINA as the depositary and agent of the country to the international financial institutions, to make on behalf of and on behalf of the REPUBLIC ARGENTINA the contributions and subscriptions established by this law.
ARTICLE 3° — In order to meet the emerging commitments in this Act, the BANCO CENTRAL DE LA REPUBLIC ARGENTINA shall have the corresponding counterpart funds to be provided by the SECRETARIAT OF HACIENDA of the MINISTERY OF ECONOMY AND PUBLIC FINANCE, upon the inclusion of such erogation in the General Budget Law of the National Administration in the relevant periods.
ARTICLE 4° — Contact the national executive branch.
IN THE SESSION OF THE ARGENTINE CONGRESS, IN GOOD AIRES, TO THE ONCE DAYS OF THE SEPTEM OF THE YEAR DOS MIL TRECE.
— REGISTRATION BAJO #26.887 —
LOVE BOUDOU. - JULIAN A. DOMINGUEZ. - Gervasio Bozzano. — Juan H. Estrada.
Annex I
CONVENTION OF ITSCRIPTION OF REGULAR CAPITAL ACTIONS
SERIE “B”
Between the Ministry of Economy and Public Finance, henceforth referred to as the Subscriber, represented by its head Dr. Hernán Gaspar Lorenzino, and the Andean Development Corporation, henceforth “CAF”, represented in this event by its President Dr. Luis Enrique García Rodríguez, jointly “the Parties”, has agreed to hold the present in the following terms and conditions:
1. By Resolution No. 1965/2011, numeral 1, of 29 November 2011, the CAF Directory decided to make available to the shareholders of the “B” series of CAF the subscription of new shares of the Ordinary Capital, whose amount, distribution and schedule of payments should be made similar to the Alternative 3 proposed in Document D.CXLIII.D.5/2011 submitted by the Administration.
2. The Subscriber, for the present act, subscribes sixteen thousand ninety (16,096) nominative shares of the "B" series, corresponding to the Ordinary Capital of CAF, each with a heritage value to the date of the present of fourteen thousand two hundred dollars of the United States of America (US$ 14,200.00), for a total of two hundred and twenty-eight million dollars a year,
(a) In 2013, an amount of fifty-seven million hundred forty-eight hundred dollars of the United States of America (US$ 57,140,800.00) corresponding to four thousand and twenty-four (4,024) shares of the “B” Series;
(b) In 2014, an amount of fifty-seven million hundred forty-eight hundred dollars of the United States of America (US$ 57,140,800.00) corresponding to four thousand and twenty-four (4,024) shares of the “B” Series;
(c) In 2015, an amount of fifty-seven million hundred forty-eight hundred dollars of the United States of America (US$ 57,140,800.00) corresponding to four thousand and twenty-four (4,024) shares of the “B” Series, and
(d) In 2016, an amount of fifty-seven million forty-eight thousand dollars of the United States of America (US$ 57,140,800.00) corresponding to four thousand and twenty-four (4,024) shares of the “B” Series.
3. Payments referred to in paragraph 2 shall be made by 30 September of each calendar year. The last payment may not be made beyond 30 September 2016.
4. All payments will be made in United States dollars.
5. CAF will hand over to the Subscriber the titles corresponding to the shares it subscribes, as it makes the payments indicated in numeral 2 and for the amount of shares it mentions in each case.
6. Disputes that may arise under this Convention shall, first, be resolved through discussions between the Parties and, in the event that an agreement is not reached within a reasonable time, by means of the mechanism provided for in Article 45 of the CAF Convention.
7. The Parties recognize that the participation of the Argentine Republic in this subscription is subject to the adoption of the NATIONAL LEGISLATIVE PODER.
8. This agreement shall enter into force on the date on which the Subscriber informs CAF that it has complied with all the requirements necessary for that purpose.
Two copies of the same tenor and the same effect are signed in the city of Buenos Aires on the two days of the month of March of two thousand twelve,
MEYFP AGREEMENT No. 6/12
And in the city of Caracas, at the 6th day of the month of March of two thousand twelve.
