INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT

Law 27152

Board of Governors. Approve Resolutions.

Sanctioned: June 10, 2015

Enacted: June 17, 2015


ARTICLE 1- Approve the provisions of Resolution N ° 612 dated 16 March 2011 of the Board of Governors of the International Bank for Reconstruction and Development (IBRD) called: ' The 2010 Authorised Social Capital Selective Increase to improve the In the case of the Republic of Argentina, the Republic of Argentina has signed two thousand six hundred and forty-three (2,643) shares of the present law as Annex I, in which the authenticated copy forms part of this law as Annex I, mentioned Bank and paid to the International Bank for Reconstruction and Development (IBRD) the sum of dollars Three hundred and eighteen million eight hundred and thirty-eight thousand three hundred five (U$S 318.838,305) of which ninety-four per cent (94%) are equivalent to US dollars two hundred and ninety-nine million seven hundred eight One thousand six cents (U$S 299,708,006,70) correspond to the capital required and the remaining six per cent (6%) is divided into a zero comma six per cent (0.6%) of capital to be paid in US dollars, equivalent to the sum of dollars Americans one million nine hundred and thirteen thousand twenty-nine with eighty-three cents (U$S (i) a total of four per cent (5.4 per cent) of capital payable in any other currency of free convertibility, equivalent to US dollars 17 million two hundred and seventeen thousand two hundred and sixty-eight; seven cents (U$S 17,217,268.47). The payment may be made in four (4) years from the date of adoption of Resolution No 612/11 to subscribe to the shares assigned to it, considering the possibility of an extension for a period of up to 24 months after the initial four (4) years. Any extension corresponding to the first twelve (12) months must be approved by the Administration, while any extension beyond the first twelve (12) months will have to be approved by the Executive Directors of the Bank.

ARTICLE 2- Approve the provisions of Resolution N ° 613 dated 16 March 2011 of the Board of Governors of the International Bank for Reconstruction and Development (IBRD) entitled 'General increase in the capital of 2010', the authenticated copy of which is attached to the In the case of the Republic of Argentina, it is estimated that the sum of US dollars is equivalent to five hundred and sixty-four (5,564) shares amounting to the sum of US dollars six hundred and seventy-one million dollars. Forty (U$S 671,213,140) of which ninety-four percent (94%) that amount to dollars The United States of America, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States and the United States The total amount of capital to be paid equivalent to the sum of US dollars four million twenty-seven thousand two hundred and seventy-eight with eighty-four cents (U$S 4,027,278.84) and a five-point four percent (5.4%) of capital payable in any other currency of free convertibility equivalent to the sum of US dollars Thirty-six million two hundred and forty-five thousand five hundred nine with fifty-six cents (U$S 36,245,509.56). The payment may be made in five (5) years from the date of approval of that Resolution No 613/11 to subscribe to the shares assigned to it, considering the possibility of an extension for a period of up to twenty-four (24) months after the initial five (5) years. Any extension corresponding to the first twelve (12) months must be approved by the Administration, while any extension beyond the first twelve (12) months will have to be approved by the Executive Directors of the Bank.

ARTICLE 3- Approve the provisions of Resolution N ° 614 dated 16 March 2011 of the Board of Governors of the International Bank for Reconstruction and Development (IBRD) entitled: ' Additional increase in the authorised capital for new subscriptions members 2010 ', the authenticated copy of which is attached to this Act as Annex III.

ARTICLE 4 °- Approve the provisions of Resolution No. 256/12 of the Board of Governors of the International Finance Corporation (IFC) called: 'Amendment of the Constitution and the Selective Increase of Capital 2010', the authenticated copy of which is attached to the In the case of the Republic of Argentina, this law was signed in Annex IV; in the case of the Argentine Republic, four thousand two hundred and seventy-six (4,276) shares equal the sum of US dollars four million two hundred and seventy-six thousand (U$S 4,276,000). pay in US dollars or by issuing notes expressed in the same currency. The payment may be made before the third anniversary of the date of effectiveness of the International Finance Corporation's (IFC) increase in authorized capital by paying all the shares subscribed or establishing a schedule of annual payments.

ARTICLE 5- I approved the cancellation of the Seventh, Eighth, Ninth, 12th, 13th, 14th, 15th and Initiative for Multilateral Debt Relief, pending at the International Development Association (IDA). the Argentine Republic will subscribe a total of one hundred and fifty two thousand four hundred and sixty three (152,463) shares, which amount to a total amount of US dollars three million eight hundred and eleven thousand five hundred thirty eight (U$S 3,811.538), in accordance with the words of Note No 140 dated 1 October 2010 of the Ministry of Economy and Public Finance, whose authenticated copy is attached to this law as Annex V, to be paid by paying in three (3) quotas of which the first instalment shall be paid at thirty one (31) days after the date of the The second quota shall be paid on 15 January 2016 and shall be equal to the sum of the sum of US dollars, and shall be equal to the sum of US $3 million. Three hundred and six thousand four hundred and ninety-two (U$S 306,492) and the third instalment to be paid on 15 January 2026 shall be equivalent to the sum of US dollars three hundred and six thousand four hundred and ninety-two (U$S 306,492).

ARTICLE 6- Approve the provisions of Resolution No. 227 dated April 26, 2011 of the Board of Governors of the International Development Association (IDA) called: 'Increase of resources: sixteenth replenishment' for which the Argentine Republic committed to contributing sixty-seven million US dollars ($S 67,600,000) by making payments by paying three (3) instalments to pay within nine (9) years to be executed between 2012 and 2020, the year of which will be authenticated copy is attached to this law as Annex VI.

ARTICLE 7- Authorize the Central Bank of the Republic of Argentina to make in the name and on behalf of the Argentine Republic the contributions and subscriptions established by this law.

ARTICLE 8- In order to deal with the emerging payments of this law, the Central Bank of the Republic of Argentina must have the corresponding counterpart contributions that will be provided by the Finance Ministry of the Ministry of Economy. and Public Finance, prior to the inclusion of such an issue in the General Budget Law of the National Administration for the relevant financial years.

ARTICLE 9- Contact the national executive branch.

GIVEN IN THE SESSION HALL OF THE ARGENTINE CONGRESS, IN BUENOS AIRES, AT THE TEN DAYS OF THE MONTH OF JUNE OF THE YEAR TWO THOUSAND FIFTEEN.


BELOVED BOUDOU. -JULIAN A. DOMINGUEZ. -Juan H. Estrada. -Lucas Chedrese.

NOTE: The Annex/s that integrates this (a) Law are published in the web edition of the BORA -www.boletinoficial.gov.ar-and can also be consulted in the Central Headquarters of this National Directorate (Suipacha 767-Autonomous City of Buenos Aires).

( Note Infoleg: The annexes referred to in this standard have been extracted from the Official Gazette web edition. The same can be found in the following link: Annexes )