The Senate and Chamber of Deputies of the Argentine Nation, meeting in Congress, etc.
Article 1-Approve the provisions of the "B" series of the "B" series of shares signed between the Argentine Republic and the Andean Development Corporation (CAF) signed in Panama City, Republic of Panama, on the 15th day of March 2016, consisting of nine (9) clauses, whose authenticated copy forms an integral part of this law as Annex I. The Argentine Republic agreed to subscribe forty thousand two hundred and eighty five (40,285) nominative shares of the series 'B' corresponding to the ordinary capital of the said corporation, each with a value Fourteen thousand two hundred US dollars (u 14,200). The total amount of the contribution is US dollars five hundred and seventy-two million forty-seven thousand (u 572,047,000), which will be paid in seven (7) annual and consecutive quotas between the years 2017, 2018, 2019, 2020, 2021, 2022 and 2023, The first quota of up to forty-eight thousand and eight thousand (u 41.748,000), the following five (5) quotas, for an amount of up to USD eighty-eight million US dollars, five thousand (u 88,395,000) each and the last fee for an amount of U.S. dollars Eighty-eight million three hundred and twenty-four thousand (u 88,324,000). It should be noted that each of the payments must be made before the 30th of September of each calendar year. The last of the payments may not be made beyond 30 September 2023.
ARTICLE 2-Authorize the Central Bank of the Argentine Republic, as a depositary and agent of the country to the international financial institutions, to make in the name and on behalf of the Argentine Republic the contributions and subscriptions established by this law.
Article 3-In order to meet the emerging commitments in this law, the Central Bank of the Argentine Republic must have the corresponding counterpart funds to be provided by the Secretariat of Finance of the Ministry of Finance and Public Finance, prior to the inclusion of such an administration in the general budget law of the national administration in the relevant financial years.
ARTICLE 4 °-Commune to the national executive branch.
GIVEN IN THE SESSION HALL OF THE ARGENTINE CONGRESS, IN BUENOS AIRES, AT THE THIRTY-ONE DAY OF THE MONTH OF MAY OF THE YEAR TWO THOUSAND SEVENTEEN.
-REGISTERED UNDER NO 27370-
MARTA G. MICHELETTI. -EMILIO MONZO. -Eugenio Inchausti. -Juan P. Tunessi.
NOTE: The Annex/s that integrates this (a) Law are published in the web edition of the BORA -www.boletinofficial.gob.ar-and can also be consulted in the Central Headquarters of this National Directorate (Suipacha 767-Autonomous City of Buenos Aires).
City of Buenos Aires, 23 June 2017
Under the terms of Article 80 of the National Constitution, I certify that Law No. 27,370 (IF-2017-12023720-APN-SSRFI#MF) sanctioned by the HONORABLE CONGRESS OF THE NATION on May 31, 2017, has been enacted in fact on the 22nd day of June 2017.
For your publication to the National Directorate of the Official Register, give a copy to the HONORABLE CONGRESS OF THE NATION and, for your knowledge and other effects, refer to the MINISTRY OF FINANCE. Compliment, file. -Pablo Clusellas.
ê 26/06/2017 N ° 44701/17 v. 26/06/2017
( Note Infoleg: The Annexes referred to in this Standard have been extracted from the Official Gazette web edition.)
SUBSCRIPTION AGREEMENT FOR SHARES OF ORDINARY CAPITAL
Between the Argentine Republic, hereinafter referred to as "the Subscriber", through the Ministry of Finance and Public Finance, represented by Mr. Alfonso de Prat Gay, Minister of Finance and Public Finance, and the Andean Corporation of Promotion, hereinafter "CAF", represented in this act by its Executive President, Mr. L. Enrique García, jointly "the Parties", it has been agreed to celebrate the present in the terms and conditions that are indicated below:
1. By Resolution N ° 2132/2015, numeral 1, of 27 November 2015. The Board of CAF decided to make available to the shareholders of the "B" Series of CAF the subscription of new shares of Ordinary Capital, the amount of which, Distribution and phonogram of payments should be done in a similar way to the consensus option proposed in Document D. CLV.D. 3/2015 presented by the Administration,
2. The Subscriber, by this act, subscribes forty thousand two hundred and eighty-five (40,285) nominative shares of the Series "B", corresponding to the Ordinary Capital of CAF, each with a patrimonial value to the date of the present of fourteen thousand two hundred dollars from the United States of America (USS 14,200,00), for a total of five hundred and two million dollars from the United States of America (USI 572.047,000.00), amount to be paid in annual instalments and as follows:
a) In the year 2017, an amount of forty-one million seven hundred and forty-eight thousand dollars from the United States of America (US$ 41.748,000.00) corresponding to two thousand nine hundred and forty (2,940) shares of the Series "B";
b) In the year 2018, an amount of eighty-eight million three hundred and ninety-five thousand dollars from the United States of America (US$ 83,395,000.00) corresponding to six thousand two hundred and twenty-five (6,225) shares of the Series "B";
c) In the year 2019, an amount of eighty-eight million three hundred and ninety-five my! dollars from the United States of America (US$ 83,395,000.00) corresponding to six thousand two hundred and twenty-five (6,225) shares in the Series "B";
d) In the year 2020, an amount of eighty-eight million three hundred and ninety-five thousand dollars from the United States of America (US$ 83,395,000.00) corresponds to six thousand two hundred and twenty-five (6,225) shares in the Series "B";
e) In 2021, an amount of eighty-eight million three hundred and ninety-five thousand dollars from the United States of America (USD 88,395,000.00) corresponding to six thousand two hundred and twenty-five (6,225) shares in the Series "B";
f) In the year 2022, a momo of eighty-eight million three hundred and ninety-five thousand dollars of the United States of America (US$ 88,395,000.00) corresponding; to six thousand two hundred twenty-five (6,225) actions of the "B" Series; and
g) In the year 2023, an amount of eighty-eight million three hundred and twenty-four thousand dollars from the United States of America (USD 88,324,000.00) corresponding to six thousand two hundred twenty (6,220) shares of the Series "B".
3. The payments referred to in numeral 2 shall be made before 30 September of each calendar year. The last of the payments may not be made beyond 30 September 2023.
4. All payments will be made in dollars from the United States of America.
5. CAF shall give to the Suscriptcr the securities corresponding to the shares which it subscribes, as the latter makes the payments indicated in the numeral 2 and by the amount of shares which, in each case, is mentioned.
o In case of default in the payment of any of the quotas mentioned in the numeral 2, it shall be carried out in accordance with the provisions of Article 18 of the Constitutive Convention of CAF.
7. The disputes which may arise in connection with this Convention shall first be settled by means of talks between the Parties and, if no agreement is reached within a reasonable period of time, by means of the mechanism provided for in Article 45 of the CAF Constitutive Convention.
8. The Parties recognize that the participation of the Argentine Republic in this subscription is subject to the approval of the National Legislative Branch of the Argentine Republic.
9. This Convention shall enter into force on the date on which the Subscriber communicates to CAF that it has complied with all the requirements that will be necessary for this purpose.
In proof of conformity, two copies of the same tenor and to the same effect are signed in Panama City, Republic of Panama, at fifteen (15) days of the month of March of two thousand sixteen.
AGREEMENT MHYFP N ° 8/16