Through Which The "agreement Establishing The Multilateral Investment Fund" And "administration Agreement Multilateral Investment Fund", Signed In Washington On 11 February 1992 Approved

Original Language Title: Por medio de la cual se aprueban el "Convenio Constitutivo del Fondo Multilateral de Inversiones" y el "Convenio de Administración del Fondo Multilateral de Inversiones", suscritos en Washington el 11 de febrero de 1992

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LAW 111
1994 (January 17)
Official Gazette No. 41177 of January 17, 1994
Through which the "Agreement Establishing the Multilateral Investment Fund" and the "Convention approved Administration of the Multilateral Investment Fund ", signed in Washington on 11 February 1992. Summary

Term Notes
THE CONGRESS OF COLOMBIA,
having regard to the texts of the "Agreement Establishing the Multilateral Investment Fund" and "Administration Agreement Multilateral Investment Fund", signed in Washington on 11 February 1992.
"AGREEMENT ESTABLISHING tHE MULTILATERAL INVESTMENT FUND

WHEREAS many leaders of Latin America and the Caribbean have carried out reforms of market economy and have recognized the need to reduce to manageable levels the external debt burden and liberalize investment regimes;
CONSIDERING the urgent need to attract private capital for economic development of the countries of Latin America and the Caribbean and reforming investment regimes to promote foreign and domestic investment in these countries; | || CONSIDERING that prospective donor members of the Inter-American Development Bank listed in Annex a to this Agreement (each considered a "donor" as it adheres to this Agreement and so referred to hereinafter) have agreed to create a multilateral fund in the Bank as a temporary measure to assist with the reform of investment regimes;
CONSIDERING that the multilateral fund can provide critical resources to supplement and complement the activities of the Inter-American Development Bank, the Inter-American Investment Corporation and other multilateral development banks, and support them in their policies and initiatives to promote reform investment schemes and, in particular, encourage microenterprise activities;
WHEREAS the Inter-American Development Bank (hereinafter called the "Bank"), for the fulfillment of its objective and carrying out its functions, has agreed to administer the fund and dated February 11, 1992, has been committed to managing the fund by signing the Administration Agreement Multilateral Investment Fund (hereinafter called "Administration Agreement");
THEREFORE, the Donors agree to establish the Multilateral Investment Fund (hereinafter called the "Fund") in accordance with the following:
ARTICLE 1o. General objectives. The overall objectives of the Fund are as follows:
(a) Encourage the development and implementation of the reform of investment regimes and facilitate significant increase in levels of private investment, both foreign and domestic, thereby accelerating the growth and economic and social development of developing countries members of the Bank and the regional countries developing member Caribbean development Bank;
(B) To encourage the efforts of these countries in implementing development strategies based on sound economic policies that promote increased private investment and expanding private sector, as these policies will increase employment opportunities and promote the activities of small and micro enterprises, thus helping to alleviate poverty, improve income distribution and strengthen the role of women in the development process;
(C) To promote micro, small businesses and other business activities in such member countries;
(D) To grant such member countries the funding to the following: (i) identify and implement reform policies to increase investment, (ii) pay certain costs associated with such reforms and expansion private sector and (iii) increase the participation of small businesses in the national economy;
and (e) promote, in all operations of the Fund, an economic development that is environmentally sound and consistent.
Article 2.
. Contributions to the Fund.

SECTION I. DOCUMENTATION OF CONTRIBUTIONS.

(A) as soon as possible after depositing the instrument of ratification, acceptance or approval of this Convention in accordance with the provisions of Section 1 of Article 6 (hereinafter referred to as the "Acceptance Document") but in no case later than sixty days after the deposit of this document, each donor deposit with the Bank an Instrument of Contribution in which it agrees to pay the Fund the corresponding amount specified in Annex a, in five annual installments by the same amount ( such contribution hereinafter called "Unconditional contribution"). Donors who have deposited an Instrument of Contribution at the date of entry into force of this Agreement or after that date, as provided in Section 1 of Article 5 (date hereinafter referred to as "Effective Date") may delay payment the first installment until the thirtieth day after such date. Donors depositing an Instrument of Contribution after the Effective Date shall make payment of the first installment within thirty days after the date may deposit the Instrument of Contribution, but in no case after the first anniversary of the Effective date or such other date as determined by the committee established by Article 4 (hereinafter referred to as the "Donors Committee"). Donors made every payment of subsequent installments on the date or prior to the date corresponding to the anniversary of the first installment;
(B) Notwithstanding paragraph (a) of this Section regarding Unqualified Contributions, in exceptional cases each donor may deposit an Instrument of Contribution in which it agrees to condition the payment of all fees, except the first, to subsequent budgetary appropriations, and seek to obtain the necessary appropriations to pay the full amount of each installment on payment dates that paragraph refers to (a) (hereinafter such a contribution is called "contribution Conditional"). Payment of any installment due after any such date payment is made within 30 days after obtaining the appropriations requested;
(C) In the event that a donor who has made a Qualified Contribution has not obtained the necessary budgetary appropriations to pay full fees at any of the dates referred to in paragraph (a) is concerned, any other donor it has paid in full payment term that will correspond him may, after consultation with the Donors Committee, indicate in writing the Bank to limit commitments under that quota. This limitation shall not exceed the percentage representing that unpaid fee on the total amount pledged by donor such as Conditional Contribution and will not remain in effect until the period in which the unpaid fee is outstanding;
(D) Any Bank member country not listed in Annex A to become a donor, as provided in Section 1 of Article 6 shall make a contribution to the Fund by depositing an Instrument of Contribution by the I agree to pay the amount on the dates and conditions approved by the donors Committee referred under Article.
(E) The Fund shall not exceed the sum of the total amounts listed in Annex A plus the amounts indicated in the documents Contribution deposited as provided in paragraph (d).
SECTION II.
PAYMENTS.
(A) they are due under the provisions of this Article payments be made in any freely convertible currency determined by the Donors Committee, or non-negotiable promissory notes which no interest (or similar securities) denominated in the currency and payable upon presentation accordance with the criteria and procedures to be established by the committee of donors to meet the operational commitments of the Fund. Payments to the Fund in freely convertible currency transferred from a donor trust fund shall be deemed made on the date of transfer and shall be computed on the sums owed by that donor.
(B) Such payments shall be made to an account or accounts that the Bank specially opened for that purpose; the aforementioned notes are deposited in that account or the Bank, as it may determine;

(C) To determine amounts due for each donor paying in a convertible currency other than dollars of the United States, the dollar amount of the United States of America indicated beside her name in Schedule a will become the currency of payment to the representative exchange rate of the International Monetary Fund for that currency, based on calculating the average of the daily exchange rates for the six months ending 30 November 1991.

ARTICLE 3. Fund operations.

SECTION I. GENERAL.
The Fund's operations are managed through three facilities, namely: Ease technical cooperation, ease of human resources and ease of promoting small businesses. The Donors Committee shall be responsible for ensuring that all operations of the Fund are consistent with the general and programs applicable policies of the Bank Group, as well as the strategy and program of the Bank Group for the respective countries resulting from the ongoing dialogue and development priorities of the respective country under the formal mechanisms established under the Administration Agreement.
SECTION II.
TECHNICAL COOPERATION FACILITY.
In the framework of technical cooperation facility resources will be granted for technical assistance, whether governments, government agencies, entities, privatization, stock exchanges or other bodies, as appropriate, to achieve compliance the Fund's objectives and in particular to finance the following:
(a) diagnostic studies of countries to identify constraints to investment, including legal, financial and regulatory;
(B) The development of national plans for comprehensive reform of the political and legal environment for investment, in conjunction and in addition to the Bank's programs for each country;
(C) Advisory services to implement the plans referred to in paragraph (b), which may involve advice on legislative reform on investment, intellectual property, commercial, tax regimes, labor, environmental protection environment and procedures as well as advice on the implementation of such legislation and for regulatory agencies;
(D) Advice on the design and implementation of privatization programs, including advice on the valuation and techniques for the privatization of specific enterprises;
and (e) Support the development and strengthening of financial systems in order to: (i) eliminate barriers (such as interest rate distortions) and encourage healthy competition; (Ii) develop sound prudential safeguards, including accounting standards and dissemination of information, and institutions to administer; (Iii) expand the capacity of the banking sector and capital markets systems through more direct, transparent and technically updated information; and (iv) take further measures to strengthen the financial sector such as advise on the creation and development of capital markets or commodity.
SECTION III. EASE

HUMAN RESOURCES Under ease HR resources to governments, government agencies, educational institutions or other will be granted, as appropriate, to develop the human resource base needed to increase investment flows and expand the private sector and in particular to finance the following:
(a) Training of workers who may be displaced as a result of the implementation of reforms on investment, spending cuts public and the restructuring or privatization of enterprises by governments;
(B) training of workers and managerial staff ensuring that meet the needs of investors and the wider private sector, and that managers are familiar with international practices in finance, accounting, planning, marketing and distribution, information technology for administration and others;
(C) Training of individuals who can perform the essential functions of regulation for the functioning of a market system, including training in other disciplines such as consumer protection, worker protection, administration of the laws on unfair competition and environmental Protection;

(D) Training of professionals who are considered important to the development of the local economy by strengthening scientific, technical capacity and human resources management;
and (e) Strengthening vocational training and other institutions that serve the purposes set out in paragraphs (a), (b), (c) and (d).
SECTION IV.
THE DEVELOPMENT FACILITY SMALL BUSINESS
(a) To achieve the objectives of the Fund, as indicated below, funding will be given to micro and small domestic companies, either directly or through intermediaries, and the institutions that serve as part of the promotion facility small business.
(B) For the purposes of paragraph (a), may be granted resources for technical cooperation to non-governmental organizations and national financial institutions (including financial intermediaries) to expand the volume and range of services they offer to microenterprises or small businesses. Such financing may be used for technical cooperation to assist those organizations and institutions to achieve the following objectives:
(i) Improve financial and business practices so that they are economically independent;
(Ii) To develop innovative features, such as mechanisms leasing and rediscount, and participate in the interbank market;
and (iii) Develop services to help micro or small enterprises to develop business plans, identifying opportunities for profitable operations and identify funding sources and solve specific marketing or other problems.
(C) Likewise, in order to achieve the objectives referred to in paragraph (a), an investment fund will be established for small business. Background at all times and for all purposes, be maintained, used, obligated, invested and accounted for separately from other resources of the Multilateral Investment Fund. The resources of the Investment Fund for small business may be used to provide loans, make investments in capital and similar to those of participation in capital investments in small businesses and micro enterprises and non-governmental organizations and national financial institutions that are establishing or expanding services to micro and small businesses, or are granting loans or investing resources in them. The Donors Committee shall determine the terms and basic conditions of such loans and investments. All amounts received by the Bank from operations Investment Fund for small business, whether dividends, interest or otherwise, shall be deposited in the account of the Multilateral Investment Fund for the Donors Committee assigns them as provided in Section 3 of Article 4. SECTION V.

Principles
Fund operations (a) financing by the Fund shall be granted under the terms and conditions of this Agreement, in accordance with the rules set out in Articles III, IV and VI of the Agreement Establishing the inter-American Development Bank (hereinafter referred to as "Charter") with Bank policies applicable to its own operations and the rules and policies of the inter-American Corporation Investment, if appropriate. Moreover, although all countries developing member are potential beneficiaries of financing from the Fund, such financing will only be granted to those who meet the following conditions:
(i) In the case of concessional assistance when the beneficiary has established that such assistance is likely to have a channeling effect on investment flows;
(Ii) Where the country in developing member in whose territory the Bank's resources will be used:
(A) is complying with the terms and conditions of an existing investment sector loan between that country and the Bank or
(B) (1) in the case of funding received under Section 2 (a), (b) or (c) of this Article, undertakes to apply sound macroeconomic policies and reform sector investment; or
(2) In the case of any other funding received under this Agreement are implementing sound macroeconomic policies and policy measures and other practices that have removed and continue eliminating obstacles to increased investment flows and that in consequence significantly expand the private sector; Y

(Iii) Where the country in developing member of the Bank, in whose territory the resources will be used, is complying with its obligations to the relevant international financial institutions.
(B) When deciding whether or not to grant funds, the Donors Committee shall pay particular regard to the relevant country's commitment to poverty reduction and reform of the investment system, the social cost of economic reforms, the economic needs of the likely recipients and the relative levels of poverty in member countries.
(C) Funding in the territory of the member countries of the Caribbean Development Bank that are not members of the Inter-American Development Bank, will be awarded in consultation with the agreement, and through the Caribbean Development Bank in conditions consistent with the principles of this Section, and as decided by the Donors Committee.
(D) Fund resources will not be used to finance or cover those project costs incurred prior to the date on which the fund's resources are available.
(E) The resources of a facility may be granted subject to contingent recovery of funds disbursed, where appropriate. All amounts so recovered shall be deposited in the account of the Multilateral Investment Fund for the Donors Committee allocate them in accordance with the provisions of Section 3 of Article 4.
(f) Only individuals or companies donors, or regional countries developing member will be eligible for tenders under the Fund, except that the countries developing member Caribbean development Bank will be eligible for bidding fee financing referred to in paragraph (c) of this section refers.
(G) The Fund's resources may not be used to finance any operation in the territory of a regional member country in the process of development of the Bank if the country concerned opposes such funding.

ARTICLE 4. The Donors Committee. SECTION I. COMPOSITION

.
Each donor may participate in meetings of the Donors Committee, and appoint a representative to attend the same, based on the appointment by the Governor of the Bank for their country.
SECTION II.
FUNCTIONS.
It is the responsibility of the Donors Committee for final approval of all proposals to grant resources for technical cooperation facility, ease of human resources and ease of promoting small business, and all proposals loans, shares in the share capital and any other financing under the Investment Fund for small business.
SECTION III.
ALLOCATION BETWEEN THE FACILITIES.
The Donors Committee may allocate resources of the Fund at any time to any of the facilities, including the Investment Fund for small business, so it may determine that a specific percentage of total Fund assets be reserved for particular facility, provided that the percentage does not exceed forty percent (40%) of the total resources of the Fund for any of the facilities.
SECTION IV.
MEETINGS.
The Donors Committee shall meet at the headquarters of the Bank with the frequency required by the Fund's operations. The Secretary of the Bank (which will act as Secretary of the Committee) or any Donor may call a meeting. As needed, the Donors Committee shall determine its organization, operating rules and procedures. The quorum at any meeting of the Donors Committee shall be the majority of all representatives representing not less than four-fifths of the total voting power of the donors.

SECTION V. VOTING.

Unless otherwise stated in this Agreement, the Donors Committee shall take decisions by a majority of three quarters of the total voting power. The total votes of each donor is equal to the sum of its proportional votes and its basic votes. Each donor will have a proportional vote for each one hundred thousand dollars of the United States of America who has contributed in cash or promissory notes (or securities similar securities) as provided in Section 2 of Article 2, or its equivalent in cash or promissory notes (or similar securities) that have contributed in freely convertible currencies, as provided in Section 2 of Article 2. Each donor will thus have the same basic votes, which will equal the number of votes resulting from the distribution equally among all donors of twenty percent (20%) of the total sum of the basic votes and proportional votes of all donors.
SECTION VI.
REPORTS.
Once approved by the Donors Committee, the annual report is submitted pursuant to Section 2 (a) of Article 5 of the Administration Agreement shall be forwarded to the Executive Board of the Bank.

The 5th ITEM. Term of the Agreement.

SECTION I. ENTRY INTO FORCE.
This Agreement shall enter into force on the date when at least five of the prospective donors listed in Annex A, whose contributions proposed in the Annex to total at least 800 million dollars of the United States of America, they have deposited the documents to which Section 1 of Article 6. SECTION II refers
.
Term of this Agreement.
This Agreement shall remain in force for a period of ten years from the effective date and may be renewed for one additional period of five years. Before the end of the initial period, the Donors Committee shall consult with the Bank about the advisability of extending the operations of the Fund or any of the facilities during the renovation period. At that time the Donors Committee, with a majority vote of at least two-thirds of donors, representing at least three-fourths of the total voting power of the donors, may extend this Agreement or any of the operations of any facility or fund for a period of renewal or shorter period term.
SECTION III.
TERMINATION BY THE BANK OR THE COMMITTEE OF DONORS.
This Agreement shall terminate in the event that the bank suspend or terminate its own operations as provided in Article X of the Charter. Likewise, this Agreement shall terminate in the event that the Bank finished the Administration Agreement under Section 3 of Article 6 of the agreement. The Donors Committee may at any time decide to terminate this Agreement, any of the facilities or the Investment Fund for small business with the vote of at least two thirds of the donors representing at least three-quarters of the total voting power of the donors.
SECTION IV.
LIQUIDATION OF THE OPERATIONS OF THE FUND.
(A) Upon termination of this Agreement, the Donors Committee shall direct the Bank to make this distribution among donors of the Fund's assets after all liabilities are canceled or provisioned. This distribution of the remaining assets will be made in proportion to the contributions in cash or by charging promissory notes or similar securities as provided in Section 2 of Article 2. Any outstanding balance on such notes or similar obligations will be canceled;
(B) Upon completion of any of the facilities or the Investment Fund for small business, and once liquidated or provided for the respective liabilities, the Donors Committee by a majority vote of at least two-thirds of donors representing at least three-fourths of the total voting power of the donors, you may determine the allocation or distribution of the remaining funds in the facility. Any distribution among donors will be held in the proportions to which paragraph (a) of this section refers.

ARTICLE 6o. General disposition. SECTION I.

accession to this Convention.

This Agreement may be signed by any prospective donor. A signatory of it may become a donor within the framework of this Agreement by depositing with the Bank an instrument of ratification, acceptance or approval with the effect that it has ratified, accepted or approved the Convention. Any Bank member country not listed in Annex A may accede to this Convention by depositing an acceptance document and a document of contribution in the amount and on dates and conditions approved by the Donors Committee, which will decide by a majority vote of at least two thirds of the donors representing at least three-fourths of the total voting power of the donors.
SECTION II.
AMENDMENT.
(A) This Agreement may be amended by the Donors Committee, which shall take the decision by a majority vote of at least two thirds of the donors representing at least three-fourths of the total voting donor. the approval of all donors is required for an amendment to this section, the provisions of Section 3 of this Article that limit the responsibility of donors, or an amendment that financial obligations or other will increase donors, or an amendment to Section 3 of Article 5.
(b) Notwithstanding the provisions of paragraph (a) of this section, any amendment by the obligations of existing donors will increase under this Agreement , presupposing or imposing new obligations to donors will take effect for each donor which has notified its acceptance in writing to the Bank.
SECTION III.
LIMITATIONS OF LIABILITY.
In relation to the operations of the Fund, the financial liability of the Bank shall be limited to the resources and reserves (if any) of the Fund; the accountability of donors as such is limited to the unpaid portion of their respective contributions that has become due and payable.
SECTION IV.
WITHDRAWAL.
(A) After payment of all conditional or unconditional contribution, any donor may withdraw from this Agreement by giving written notice to that effect to the Bank's headquarters. This separation will finally effective on the date specified in such notice, but in any case within six months from the date of delivery of such notice to the Bank. However, at any time before the separation is finally effective, the member may give written notice to the Bank its decision to revoke its notice of intention to withdraw;
(B) A donor who has withdrawn from this Convention shall remain liable for all obligations under the Convention in force prior to the effective date of notification of withdrawal;
(C) All agreements between the Bank and a donor, under the provisions of Section 7 of Article 7 of the Convention of Directors for the resolution of the respective claims and obligations shall be subject to approval by the Committee donors.
IN WITNESS WHEREOF, the prospective donors, each acting through its authorized representative, have signed this Agreement.
Awarded in the city of Washington, District of Colombia, on February 11, 1992, in a single original document, of which the Spanish, French, English and Portuguese are equally authentic, to be deposited in the archives of the Bank, which will send a certified copy to each of the prospective donors listed in Annex a to this Agreement.

ANNEX A Shares
donor contribution to the Multilateral Investment Fund. Contribution COUNTRY

in the dollar equivalent
United States of America (1)
Germany ... ... ... ... ... ... ... ... ... $ 30,000,000 Argentina ..
. ... ... ... ... ... ... ... ... 20,000,000
Brazil ... ... ... ... ... ... ... ... ... ..... 20,000,000
Canada ... ... ... ... ... ... ... ... ... ..
Chile 30701754 ... ... ... ... ... ... ... ... ... ... ... ... 5.000.000
Colombia ... ... ... ... ... ... ... 5,000,000

Costa Rica ... ... ..... ... ... ... ... .... 600,000
El Salvador ... ... ... ... ... ...... ... .. 600,000
Spain ... ... ... ... ... ... ... ... ... .. 50,000. 000
USA
500,000,000 ... ... ... ... ... ... ... France ... ... ... ... .. ..
15,000,000 Guatemala ... ... ... ... ... ... ... ... .... 600,000
Honduras ... ... .... .. ... ... ... ... ....
Italy 600,000 ... ... ... ... ... ... ... ... ... .. 30,000,000
Japan ... ... ... ... ... ... ... ... .... 500,000,000 ..
Mexico ... ... ... ... ... ... ... ... ... .. 20,000,000
Nicaragua ... .. . ... ... ... ... ... ... ... 600,000
Peru ... ... ... ... ... ... ... .. . ... .... 1,000,000
Portugal ... ... ... ... ... ... ... ... .... 4,000,000
Uruguay ... ... ... ... ... ... ... ... ....
3.000.000 Venezuela ... ... ... ... ... ... ... ... ..
20,000,000 Total ... ... .... .. ... ... ... ... ... ... 1.256.701.754
(1) in the case of a commitment made in a currency other than dollars of the United States of America, converted to the exchange rate as the IMF established based on the average of the daily exchange rates calculated during the six-month period ending on 30 November 1991.
for Argentina, Carlos Ortiz de Rozas, Ambassador of Argentina with the Government of the United States of America .......... 11 / Feb. / 92
Hair Brazil, Rubens Ricupero, Embaixador ao Governo do Brasil with two US ........ .......................... 11 / Fev. / 92 For Canada, DEREK H. BURNEY, Embassador of Canada to the United States of America. .................................. 11 / Feb. / 92Por Chile, PATRICIO SILVA ECHEIQUE, Ambassador of Chile to the Government of the United States ........... 11 / Feb. / 92Por Colombia, JAIME GARCIA PARRA, Ambassador of Colombia to the Government of the United States of America ....... ... 11 / Feb. / 92
for Costa Rica, FACIO GONZALO S., Ambassador of Costa Rica to the Government of the United States of America .......... 11 / Feb. / 92Pour la France, PHILIPPE ADHEMAR, Plenipotentiaire et Ministre Conseiller Financier pour l'Amérique du Nord ......... 11 / Fev. / 92For Germany, Fritjof VON NORDENSKJOLD, Chargé d'Affairs 11 / Feb. / 92Por Guatemala, JUAN JOSE CASE FANJUL. Ambassador of Guatemala to the Government of the United States of America ........ 11 / Feb. / 92Por Honduras, JORGE A. HERNANDEZ, Ambassador of Honduras to the Government of the United States of America ..... ...... 11 / Feb. / 92
For Italy, BORIS BIANCHERRI, Ambassador of Italy to the United States of America .................... ............... 11 / Feb. / 92For Japan, Ryohei Murata, Ambassador of Japan to the United States of America ............... ........................... 11 / Feb. / 92Por Mexico, Gustavo Petricioli I., Ambassador of Mexico to the Government of the United States American ........... 11 / Feb. / 92Por Nicaragua, ERNESTO PALAZIO, Ambassador of Nicaragua to the Government of the United States ........... 11 / Feb ./92
for Peru, ROBERT MACLEAN, Ambassador of Peru to the Government of the United States of America ....................... 11 / Feb ./92Por Portugal, FRANK E. MANUEL SILVA, director -Geral do Tesouro Ministério das Financas ............................. 11 / Fev./92Por El Salvador, MIGUEL A. SALAVERRIA, Ambassador of El Salvador to the Government of the United States of America ..... 11 / Feb. / 92Por Spain, JOSE MARTINEZ ARANZADI, Minister of Industry, Trade and Tourism Spain ................................... 11 / Feb. / 92
For The United States of America, NICOLAS BRADY, Secretary of the Treasury of the United States of America ............. 11 / Feb. / 92Por Uruguay, EDUARDO MACGUILLICUDDY, Ambassador of Uruguay to the Government of the United States of America ............ 11 / Feb. / 92Por Venezuela, SIMON A. CONSALVI, Ambassador of Venezuela to the Government of the United States of America ............ 11 / Feb. / 92
the Legal Undersecretary of the Ministry of Foreign Affairs signed, DECLARES
:
That this is true and complete reproduction of the certificate text of the "Agreement Establishing the Multilateral Investment Fund" signed in Washington on February 11, 1992, which lies in the Legal Secretariat of the Ministry photocopy.
Given in Bogota, DC, ten (10) days of December in 1992 (1992).

The Subsecrestaria Legal,
MARTHA HOPE WHEEL MERCHÁN.
Executive branch of government - Presidency of the Republic.
Bogota, DC, December 15, 1992. Approved
, submit for consideration by the National Congress for constitutional purposes.
(Sgd.) César Gaviria Trujillo
The Minister of Foreign Affairs,

charge of the functions of the Office of the Minister,
(Signed) WILMA HARVEST TURBAY. DECREES
:
ARTICLE 1o. To approve the "Agreement Establishing the Multilateral Investment Fund" and "Administration Agreement Multilateral Investment Fund", signed in Washington on 11 February 1992.
Article 2.
. In accordance with the provisions of article 1. 7a Act. 1944, the "Agreement Establishing the Multilateral Investment Fund" and "Administration Agreement Multilateral Investment Fund", signed in Washington on February 11, 1992, that article 1. of this Act are passed, it will force the country from the date the international link regarding the same is perfected.

ARTICLE 3. The Ministry of Finance will make the necessary appropriations in the national budget to meet the grant provided for in the Agreement Establishing the Multilateral Investment Fund.

ARTICLE 4. This Law governs from the date of publication.
The President of the Senate of the Republic, JORGE RAMON ELIAS NADER

The Secretary General of the honorable Senate, PUMAREJO VEGA PEDRO

The President of the honorable House of Representatives, JOSE FRANCISCO

SAFAR Jattin the Secretary General of the honorable House of Representatives, DIEGO VIVAS TAFUR

REPUBLIC oF COLOMBIA - NATIONAL GOVERNMENT
communication and publication. Run
prior review by the Constitutional Court under Article
241-10 of the Constitution.
Given in Bogota, DC, 17 January 1994.

César Gaviria Trujillo Vice Minister of Foreign Affairs, responsible
functions
Office of the Minister of Foreign Foreign
WILMA HARVEST TURBAY.
The Deputy Minister of Finance and Public Credit,
manager functions
Office of the Minister of Finance and Public Credit,

CLAVIJO HECTOR JOSE CHAIN


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