Approve The Increase In The Contribution Of The Republic Of Argentina To The Authorized Capital Of The Inter-American Development Bank.

Original Language Title: Apruébase el aumento del aporte de la República Argentina al capital autorizado del Banco Interamericano de Desarrollo.

Read the untranslated law here: https://www.boletinoficial.gob.ar/#!DetalleNorma/10208361/20160703

ORGANIZATIONS international organizations international law 26.745 approving the increase of the contribution of the Republic of Argentina to the authorized capital of the Inter-American Development Bank. Passed: May 16 2012 fact promulgated: 14 June 2012 the Senate and Chamber of deputies of the Argentina nation gathered in Congress, etc. sanctioned with force of law: article 1 - approve the increase in the contribution of the Republic of Argentina to the authorized capital of the Inter-American Development Bank (IDB) in the sum of seven thousand five hundred twenty-five million seven hundred sixty thousand two hundred twenty-seven dollars (U$ S 7.525.760.227), aimed at increasing the capital together with other countries members, in the sum of US $ 70 billion (U$ S 70.000.000.000) , in accordance with the increase proposed in the resolution AG-7/10, "Annex A", which is part of the present law as annex I in certified copy.
Article 2º - salary 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) actions correspond to actions of ordinary capital payable in cash and six hundred eight thousand six hundred ninety-nine (608.699) shares are shares of ordinary callable capital, according to the "model of instrument of subscription" , "Annex B", authenticated copy forming a part of the present law as annex II.
Article 3º - the payment of fifteen thousand one hundred and fifty (15.150) actions of ordinary capital payable in cash, for a value of up to one hundred eighty and two million seven hundred sixty-one thousand dollars one (U$ S 182.761.001) will be held in five (5) equal installments which will be effective the day 31 of 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) and taking into account that each fee must be paid within thirty (30) days following their respective date of effectiveness.
Article 4. - the Inter-American Bank of development (IDB) will receive notes or similar non-negotiable values, not accrued interests, in the manner provided in article V, section 4, of the articles of agreement of the mentioned Bank, in lieu of immediate payment of all or any part of the subscription of shares of the ordinary capital payable in cash.
Article 5º - the signing of the six hundred eight thousand six hundred ninety-nine (608.699) https://www.boletinoficial.gob.ar/pdf/linkQR/QzV6YXpyUkpUSnBycmZ0RFhoUThyQT09 callable capital ordinary shares shall be made in five (5) annual fees, the first four (4) for an amount of up to us $ a thousand four hundred sixty-eight million six hundred two thousand two hundred fifty and seven ninety -four cents (U$ S 1.468.602.257,94) each , and the fifth fee, for an amount of up to us $ a thousand four hundred sixty and eight million five hundred ninety thousand one hundred ninety-four and fifty-one cents (U$ S 1.468.590.194,51) that will be effective the day 31 of October of the years 2011, 2012, 2013, 2014 and 2015, respectively, or at a later date determined by the Executive Board of the Inter-American Development Bank (IDB).
Article 6º - approve the increase in the contribution of the Republic of Argentina to the Fund for special operations of the Inter-American Bank of development (IDB) in the sum of up to twenty-six million seven hundred seventy and nine thousand four hundred fifteen dollars (U$ S 26.779.415), aimed to increase this Fund together with the other countries members, in the sum of four hundred seventy-nine million US dollars (U$ S 479.000.000) in accordance with the increase proposed in the "model of instrument contribution", "Annex C", which on authenticated copy is part of the present law as annex III.
Article 7º - increase to the Fund for special operations shall be carried out in five annual installments (5), each worth up to five billion three hundred fifty and five thousand eight hundred eighty-three dollars (U$ S 5.355.883), that they will be effective the day 31 of October of the years 2011, 2012, 2013, 2014 and 2015, respectively, or at a later date determined by the Executive Board of the Inter-American Development Bank (IDB) taking into account that each fee must be paid within thirty (30) days following their respective date of effectiveness.
Article 8º - the Inter-American Bank of development (IDB) will receive notes or similar non-negotiable values, not accrued interest as provided in article V, section 4, of the articles of agreement of the Bank, in lieu of immediate payment in full or any part of the contribution of the country to each share.
Article 9 °-authorize is to the Bank Central of the Republic Argentina to carry out, in name and by has of the Republic Argentina, them contributions and subscriptions established by the present law. (The payment of each contribution quotas shall be conditional on that of the total of fees prior to the authorized capital and to the Fund for special operations that are expired, member countries have paid a minimum percentage of contributions established in article II, section 4, paragraph c), and article IV, section 3, paragraph f) of the articles of agreement of the Inter-American Bank of development (IDB).
ARTICLE 10. -For the compliance of it indicated in the article preceding, the Bank Central of the Republic Argentina may issue, in name and by has of it Republic Argentina, to the order of the Bank Inter-American of development (IDB), values not negotiable that not shall accrue interests, payable to the view, which will be delivered to said Bank in replacement of them contributions in effective as it designated in them articles previous of the present law and in accordance with them terms of the Article V, section 4, of the Convention establishing of the Bank Inter-American of development (IDB).
ARTICLE 11. -In order make facing them payments emerging of the present law, the Bank Central of the Republic Argentina must count with them corresponding contributions of counterpart that will be https://www.boletinoficial.gob.ar/pdf/linkQR/QzV6YXpyUkpUSnBycmZ0RFhoUThyQT09 provided by the Secretariat of Hacienda of the Ministry of economy and finance public, prior inclusion of such delivery in it law of budget general of it administration national for them exercises relevant.
ARTICLE 12. -Communicate is to the power Executive national. GIVEN IN THE CHAMBER OF THE CONGRESO ARGENTINO, BUENOS AIRES, SIXTEEN DAYS AFTER THE MONTH OF MAY OF THE YEAR TWO THOUSAND TWELVE. -REGISTERED UNDER NO. 26.745 - JULIAN A. DOMINGUEZ. -BEATRIZ ROJKES DE ALPEROVICH. -Gervasio Bozzano. -John H. Estrada.
Annex I Annex A document from the Bank Inter-American of development resolution AG-7/10 report on the ninth increase General of resources of the Inter-American Bank of development considering: that on the 22 of March 2010 Board of Governors approved the Cancun Declaration (document AB-2728), thereby agreeing to continue with the ninth increase General of resources from the Inter-American Development Bank, and to take the necessary measures to that effect; That the Executive Board and administration have prepared a technical document and the legal instruments necessary for such an increase, entitled "Report on the ninth increase General of resources from the Inter-American Development Bank", document AB-2764 (the "report"); and that the Executive Board approved the resolution of-42/10 determining that this draft resolution attached to the report is submitted for consideration by the Board of Governors, by the procedure laid down in the section 5 of the regulation the Bank General vote on without convening a meeting; The Assembly of Governors resolves: 1. to approve the report; such approval will include the approval of the recommendations set out in Chapter VII of the report; 2 recommend that Member countries take actions necessary and appropriate to vote and give effect to substantially similar resolutions resolution projects annexed to the report; and 3. Urge the members of the Bank to vote on those draft resolutions and measures that may be necessary in order to comply with the initiatives contained in the report, including an increase in resources of the ordinary Capital, the Fund for special operations and not refundable ease of the IDB, as soon as possible. Approved on July 21, 2010 annex II Annex B model of instrument of subscription to the Bank's Secretary: https://www.boletinoficial.gob.ar/pdf/linkQR/QzV6YXpyUkpUSnBycmZ0RFhoUThyQT09

Have the pleasure of inform to you that Argentina, by the present letter, subscribes 623.849 actions of the Capital ordinary of the Bank Inter-American of development (the "Bank"), consistent in 15.150 actions of Capital ordinary payable in effective and 608.699 actions of Capital ordinary callable, of compliance with them conditions established in the project of resolution entitled "increase of U$ S 70,000 million in the Capital ordinary authorized and them corresponding fees of subscription" which is attached as Annex A to the report contained in document AB-2764, approved by the Board of Governors by resolution AG-7/10 on July 21, 2010. Also, Argentina, through the present letter, agrees to pay the sum of U$ S 182.761.001, to has of its subscription to the Capital ordinary payable in effective of the Bank, through five fees equal, each a by an amount of U$ S 36.552.200,11, that will be effective them days 31 of October of them years 2011, 2012, 2013, 2014 and 2015, respectively, or in them dates later that determine the directory Executive , and in accordance with other conditions indicated in the above draft resolution. Each of the fees must be paid within 30 days of the effective date corresponding to the quota. On behalf of Argentina, left proof that all necessary steps to authorize the present subscription, and my commitment that Argentina will supply to the Bank any information that this please request have been taken in this regard.

Annex C annex III model instrument of contribution to the Bank's Secretary: I am pleased to inform you that Argentina, by means of this letter, agrees to make a contribution of us$ S 24.797.175 to the Fund for special operations of the Inter-American Bank of development (the "Bank"), in accordance with the conditions laid down in the draft resolution entitled "Increase in the resources of the Fund" for special operations and contributions to it which is attached as Annex B to the report contained in document AB-2764, approved by the Board of Governors by resolution AG-7/10 on July 21, 2010.
Sincerely, Amado Boudou Governor of the Bank Inter-American Development by Argentina [include one of the two paragraphs following] https://www.boletinoficial.gob.ar/pdf/linkQR/QzV6YXpyUkpUSnBycmZ0RFhoUThyQT09 of [the contribution shall be paid on a fee of U$ S 24.797.175, which will be effective on the date corresponding to the first installment of the increase in the Fund for special operations, that is, on October 31, 2011] , or in the date later that determine the directory Executive, and of conformity with them others conditions indicated in the quoted project of resolution. The fee must be paid within 30 days of the effective date of the fee].1 [La contribution will be paid in five installments of $S 5.355.883 each, which will be effective the day 31 of October of the years 2011, 2012, 2013, 2014 and 2015, respectively, or on the subsequent dates to be determined by the Executive Board, and in accordance with other conditions indicated in the above-mentioned draft resolution.] Each installment must be paid within 30 days of the effective date of the fee].2 [include the following paragraph for a contribution early, if applicable] [in accordance with paragraph 7.5 of the report, Argentina carry out part or all the quoted contribution in the form of an advance contribution for a total amount of us$ S ___3, in one or more payments] before the effective date of the first payment (i.e. October 31, 2011, or the later date determined by the Executive Board). [Without prejudice to the foregoing, the / the payment (s) corresponding (s) to such advance contribution shall be (n) cash (s) at the time of its receipt by the Bank].4 in name and representation of Argentina, declare that all the legal requirements necessary to sign this instrument's contribution and take all measures specified in it met.

1 include this paragraph if you choose to make a contribution in a share.
2 include this paragraph if you choose to make a contribution in five installments.
3. If you choose to make an advance contribution for an amount that represents the totality of the contribution of Argentina in accordance with subparagraph (a) (i) of paragraph 7.5 of the report, U$ S 24.797.175, or if choose to make an early contribution by an amount that represents the first instalment of the contribution of Argentina in accordance with subparagraph (a) (ii) of paragraph 7.5 of the report , indicated U$ S 5.355.883.
Carefully, Amado Boudou Governor of the Bank Inter-American of development by Argentina https://www.boletinoficial.gob.ar/pdf/linkQR/QzV6YXpyUkpUSnBycmZ0RFhoUThyQT09 4 include is this paragraph if is chooses by make a contribution early of conformity with the paragraph 7.5 of the report.

Date of publication: 21/06/2012 https://www.boletinoficial.gob.ar/pdf/linkQR/QzV6YXpyUkpUSnBycmZ0RFhoUThyQT09