INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT

Law 27152

Board of Governors. Approve Resolutions. Sanctioned: June 10, 2015 Enacted: June 17, 2015

The Senate and Chamber of Deputies of the Argentine Nation, meeting in Congress, etc., are sanctioned by law:

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 for improve the voices and participation of developing and transition countries, whose authenticated copy forms part of this law as Annex I, with regard to the Republic of Argentina signing two thousand six hundred and forty-three (2,643) the Bank and the International Bank for Reconstruction and Development (IBRD), the Bank and the Bank of US dollars three hundred and eighteen million eight hundred and thirty-eight thousand three hundred five (U$S 318,838,305) of which ninety-four percent (94%) amount to US dollars two hundred and ninety-nine million Seven hundred and eight thousand six with seventy cents (U$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 US dollars one million nine hundred and thirteen thousand twenty-nine with eighty-three cents (U$S 1,913.029.83) and a five-point four percent (5.4%) of capital payable in any other currency of free convertibility, equivalent to US dollars seventeen million two hundred and seventeen thousand two hundred and sixty-eight with forty and seven cents (U$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) called: 'General Increase in Capital of 2010', whose authenticated copy is This law is annexed to this law as Annex II, with regard to the fact that the Argentine Republic has subscribed five thousand five hundred and sixty-four (5,564) shares equal to the sum of US dollars six hundred and seventy-two hundred thirteen One hundred and forty (U$S 671,213,140) of which ninety-four percent (94%) equivalent to US dollars six hundred and thirty million nine hundred and forty thousand

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Three hundred and fifty-one with sixty cents (U$S 630,940,351.60) corresponds to the capital required and the remaining six percent (6%), in turn is divided into a zero comma six percent (0.6%) of capital to pay equivalent to the sum of dollars The United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the United States, the Thirty-six million US dollars two hundred and forty-five thousand five hundred nine with Fifty-six cents (U$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) called: ' Additional increase of the Authorized Capital for subscriptions to new 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 In the case of the Republic of Argentina, the Republic of Argentina has signed four thousand two hundred and seventy-six (4,276) shares equivalent to the sum of US dollars four million two hundred and seventy-six thousand (U$S). 4.276,000) to be paid in US dollars or through the issuance of 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-Approve the cancellation of the Seventh, Eighth, Ninth, 12th, 13th, 14th, 15th and Initiative for Multilateral Debt Relief, pending at the International Development Association (IDA) for which 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$S 3.811.538), as expressed in Note No 140 dated 1 October 2010 of the Ministry of Economy and Public Finance, whose authenticated copy is attached to this law as Annex V, to be paid by paying in three (3) quotas of which the first fee shall be paid at thirty-one (31) days after effective the instrument and shall be equal to the sum of US dollars three million and ninety-eight thousand five hundred and fifty-four (U$S 3.198.554); the second instalment shall be paid on 15 January 2016 and shall be equal to the sum of dollars Three hundred and six thousand four hundred and ninety-two (U$S 306,492) and the third instalment to be paid by date 15 January of 2026 will amount to the sum of US dollars three hundred and six thousand four hundred and ninety two (U$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 Republic Argentina committed to contribute to

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US dollars sixty-seven million six hundred thousand (U$S 67,600,000) making payments by means of promissory notes in three (3) instalments to be paid within nine (9) years to be executed between the years 2012 and 2020, whose 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 to be provided by the Secretariat of Finance of the Ministry of Economy and Public Finance, prior to the inclusion of this administration in the General Budget Law of the National Administration for the relevant financial years.

ARTICLE 9 °-Commune to 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.

-REGISTERED UNDER NO 27152-

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).

Date of publication: 24/06/2015

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