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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1994 ACT 111

(January 17)

Official Journal No. 41.177 of 17 January 1994

By means of which the "Constitutional Convention of the Multilateral Investment Fund" and the "Convention of Administration of the Multilateral Investment Fund" are approved, signed in Washington on 11 February 1992.

THE CONGRESS OF COLOMBIA,

In view of the texts of the "Constitutional Convention of the Multilateral Investment Fund" and the "Management Convention of the Multilateral Investment Fund", signed in Washington on 11 February 1992.

" FUND CONSTITUTIVE CONVENTION

INVESTMENT MULTILATERAL

WHEREAS many Latin American and Caribbean leaders have carried out market economy reforms and recognized the need to reduce the burden of foreign debt at controllable levels and to liberalize the investment;

CONSIDERING the imperative need to attract private capital for the economic development of Latin American and Caribbean countries and to reform investment regimes to promote foreign and domestic investment in these countries;

WHEREAS the probable donor members of the Inter-American Development Bank listed in Annex A to this Convention (each considered a "Donor" as soon as it adheres to this Convention and so called) have agreed to create a multilateral fund at the Bank as a transitional measure to help with the reform of investment regimes;

WHEREAS that multilateral fund could provide essential resources to supplement and supplement the activities of the Inter-American Development Bank, the Inter-American Investment Corporation and other multilateral banks, development and support them in their policies and initiatives to promote the reform of investment schemes and, in particular, to promote the activities of micro-enterprises;

CONSIDERING that the Inter-American Development Bank (hereinafter referred to as the "Bank"), in order to meet its objective and the performance of its tasks, has agreed to administer this fund and, by 11 February 1992, has been committed to administering such a fund by subscribing to the Multilateral Investment Fund Management Convention (hereinafter referred to as the "Management Convention");

THEREFORE, the Donors agree to establish the Multilateral Investment Fund (hereinafter referred to as the "Fund") as follows:

ARTICLE 1o. General objectives. The general objectives of the Fund are as follows:

(a) Encourage the development and implementation of the reform of investment regimes and facilitate the significant increase in private investment levels, both foreign and domestic, accelerating growth and development economic and social of the developing countries regional members of the Bank and the developing countries members of the Caribbean Development Bank;

(b) Encourage the efforts of these countries to implement development strategies based on sound economic policies that promote an increase in private investment and the expanding private sector, as these policies will increase job opportunities and promote the activities of small and micro enterprises, thereby contributing to alleviating poverty, improving income distribution and strengthening the role of women in the development process;

(c) Promoting micro, small businesses and other business activities in such member countries;

(d) Grant such member countries the funding to enable them to: (i) identify and implement reform policies in order to increase investment, (ii) cover certain costs related to such reforms and with the expansion of the private sector and (iii) increasing the participation of small entrepreneurs in the national economy; and

(e) Promote, in all operations of the Fund, an economic development that is environmentally sound and constant.

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ARTICLE 2o. Contributions to the Fund.

SECTION I.

DOCUMENTATION OF THE CONTRIBUTIONS.

(a) As soon as possible after depositing the document 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"), no case after sixty days of deposit of the said document, each donor shall deposit in the Bank a Contribution Document committing to pay the Fund the corresponding amount set out in Annex A, in five annual instalments by the same amount (hereinafter referred to as 'Unconditional Contribution'). Donors who have deposited a Contribution Document on the date of entry into force of this Convention or after that date, as provided for in Section 1 of Article 5 (date hereinafter referred to as "Effective Date") may delay payment of the first instalment up to the 30th day after that date. Donors who deposit a Contribution Document after the Effective Date shall make the payment of the first instalment within 30 days of the date on which they make such a deposit of the Contribution Document, but no case after the first anniversary of the Effective Date or on such other date as determined by the committee established by Article 4 (hereinafter referred to as the "Donors Committee"). Donors shall make each payment of the subsequent quotas on or before the date corresponding to the anniversary of the first instalment;

(b) Without prejudice to the provisions of paragraph (a) of this Section in respect of Unconditional Contributions, each donor may, in exceptional circumstances, deposit a Contribution Document which commits to the condition of the payment of the all fees, except the first, to subsequent budget appropriations, and to seek the necessary appropriations to pay the total amount of each installment on the payment dates referred to in the paragraph (a) (hereinafter referred to as the contribution is called "Conditional Contribution"). Payment of any fee due after any such payment date shall be made within 30 days of obtaining the requested appropriations;

(c) In the event that a donor who has made a Conditional Contribution has not obtained the necessary budgetary appropriations to pay all of the fees on the dates referred to in the paragraph (a), any Another donor who has satisfied the full payment in time, after consulting with the Donors Committee, may indicate in writing to the Bank that he limits the commitments under that quota. Such limitation may not exceed the percentage which represents such an unpaid fee in respect of the total amount committed by such a donor as a Conditional Contribution, and shall not remain in effect but for the period in which the quota impays payment;

(d) Any member country of the Bank not listed in Annex A that becomes a donor, as provided for in Section 1 of Article 6 shall make a contribution to the Fund through the deposit of a Contribution Document by which undertakes to pay an amount on the dates and conditions approved by the Donor Committee in accordance with this Article.

(e) The Fund shall not exceed the sum of the total amounts indicated in Annex A plus the indicated amounts of the Contribution Documents deposited as provided for in paragraph (d).

SECTION II.

PAGOS.

(a) The payments to be made in accordance with this Article shall be made in any freely convertible currency determined by the Donor Committee, or in non-negotiable promissory notes (or other securities). (a) denominated in the currency and payable for presentation in accordance with the criteria and procedures to be established by the donor committee to meet the Fund's operational commitments. Payments to the Fund in freely convertible currency which are transferred from a trust fund of a donor shall be deemed to have been made on the date of their transfer and shall be taken into account for the sums due by that donor.

(b) Such payments shall be made to an account or accounts which the Bank will open in particular to the effect; the notes referred to shall be deposited in that account or the Bank, as determined by the Bank;

(c) To determine the amounts owed by each donor who make their payments in a convertible currency other than the United States of America, the dollar amount of the United States of America indicated next to its name in Annex A shall be converted to the currency of payment at the representative exchange rate of the International Monetary Fund for that currency, based on the calculation of the average daily exchange rates during the six-month period ending on 30 June. November 1991.

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ARTICLE 3o. Fund operations.

SECTION I.

GENERAL CHOICE.

The operations of the fund will be administered through three facilities, namely: the facility of technical cooperation, the facility of human resources and the ease of the promotion of the small business. The Donors Committee shall be responsible for ensuring that all operations of the Fund are consistent with the Bank Group's applicable general programmes and policies, as well as with the Bank Group's strategy and programme. for the respective countries resulting from the continuous dialogue and development priorities of the respective country in accordance with the formal mechanisms laid down in the Management Convention.

SECTION II.

THE EASE OF TECHNICAL COOPERATION.

In the framework of the technical cooperation facility, resources will be granted for technical assistance, either to governments, government agencies, privatization entities, stock exchanges, or other bodies, as appropriate, to achieving the objectives of the Fund and, in particular, to finance the

:

(a) Diagnostic studies of countries to identify investment constraints, including legal, financial and regulatory constraints;

(b) The development of national plans for the global reform of policies and the legal environment for investments, in conjunction and as a complement to the Bank's programs for each country;

(c) Advisory services to implement the plans referred to in paragraph (b), which may include advice regarding the legislative reform in the field of investments, intellectual property, commercial, tax, labor, protection of the environment and procedures, as well as advice on the implementation of such legislation and with regard to regulatory entities;

(d) Advice on the design and implementation of privatisation programmes, including assessment of valuation and techniques for the privatisation of specific companies; and

(e) Support for the development and strengthening of financial systems in order to: (i) remove obstacles (such as interest rate distortions) and promote healthy competition; (ii) develop sound and prudent safeguards, including accounting and information dissemination standards, and institutions that monitor them; (iii) expanding the capacity of the banking sector and capital markets by means of more direct, transparent and more transparent information systems; technically up to date; and (iv) take other measures to strengthen the sector The Commission has also been able to assess the impact of the financial crisis on the financial markets.

SECTION III.

THE EASE OF HUMAN RESOURCES

In the framework of the human resources facility, resources will be provided to governments, government agencies, educational institutions, or others, as appropriate, in order to develop the human resources base needed to increase flows of human resources. investment and expansion of the private sector, and in particular to finance the

:

(a) Training of workers who may be displaced as a result of the implementation of the reforms related to investments, the reduction of public expenditure and the restructuring or privatization of companies by governments;

(b) Training of workers and managers ensuring that they meet the needs of investors and a wider private sector, and that management boards are familiar with international practices in the field of finance, accounting, planning, marketing and distribution, IT for administration and others;

(c) Training of individuals who can perform the regulatory functions essential to the functioning of a market system, including training in other disciplines such as consumer protection, protection of the workers, administration of laws on unfair competition and environmental protection;

(d) Training of professionals to whom it is considered important for the development of the local economy by strengthening the scientific, technical and management capacity of human resources; and

(e) Strengthening of vocational training and other institutions serving the purposes set out in paragraphs (a), (b), (c) and (d).

SECTION IV.

THE EASY TO PROMOTE SMALL BUSINESS

(a) For the achievement of the Fund's objectives, as indicated below, financing will be provided to micro and small national enterprises, either directly or through intermediaries, and to the institutions that serve them, in the the framework of the ease of promotion of small business.

(b) For the purposes of paragraph (a), resources may be granted for technical cooperation to non-governmental organizations and national financial institutions (including financial intermediaries) to expand the volume, and the range of services. These offer to micro or small enterprises. Such funding for technical cooperation may be used to help those organisations and institutions achieve the following objectives:

(i) Improving financial and commercial practices to make them economically independent;

(ii) Develop innovative facilities, such as leasing and rediscounting mechanisms, and participate in the interbank market; and

(iii) Develop services to help microenterprises or small businesses to develop business plans, identify opportunities for profitable operations, and identify sources of financing and address specific problems to the marketing or other.

(c) In order to achieve the objectives referred to in the paragraph (a), an Investment Fund shall be established for the small business. Fund which, at all times and for all intents and purposes, will be maintained, used, committed, invested and accounted for separately from the rest of the resources of the Multilateral Investment Fund. The resources of the Investment Fund for small enterprises may be used to grant loans, to make investments in the social capital and investments similar to those of participation in the social capital, in small enterprises and micro enterprises and non-governmental organisations and national financial institutions which are establishing or expanding services for micro or small enterprises, or which are providing loans or investing resources in them. The Donors Committee shall determine the basic terms and conditions of such loans and investments. All the sums received by the Bank from the operations of the Investment Fund for the small business, whether dividends, interest or other, will be deposited in the account of the Multilateral Investment Fund for the Donors ' Committee. assign them in accordance with the provisions of Section 3 of Article 4.

SECTION V.

Principles applicable to Fund operations

(a) The financing from the Fund shall be granted in accordance with the terms and conditions of this Convention, in accordance with the rules laid down in Articles III, IV and VI of the Inter-American Bank of America. Development (hereinafter referred to as "Organic Charter"), with the Bank's policies applicable to its own operations and with the rules and policies of the Inter-American Investment Corporation, if it were to proceed. In addition, while all developing countries members of the Bank are potential beneficiaries of funding from the Fund, such funding will only be granted to those who satisfy the following conditions:

(i) In the case of concessional assistance where the beneficiary has established that such assistance is likely to have a channelling effect on investment flows;

(ii) When the developing country member of the Bank in whose territory the resources are to be used:

(A) Is in compliance with the terms and conditions of a sectoral loan for investments between that country and the Bank, or

(B) (1) In the case of financing received under Section 2 (a), (b) or (c) of this Article, it undertakes to implement a sound macroeconomic policy and to reform the investment sector; or

(2) In the case of any other type of financing received under this Convention, it is implementing a sound macroeconomic policy and policy measures and other practices that have eliminated and continue to remove obstacles to the increase. of the flow of investments, and that the private sector is significantly expanded; and

(iii) When the developing country member of the Bank, on whose territory the resources are used, is complying with its obligations to the relevant International Financial Institutions.

(b) In deciding whether or not to grant funds, the Donors ' Committee will take particular account of the country's commitment to poverty reduction and reform of the investment regime, to the social cost of the reforms. the economic needs of the likely beneficiaries and the relative poverty levels of the Member States.

(c) The financing in the territory of the Caribbean Development Bank member countries that are not members of the Inter-American Development Bank will be granted in consultation with, with the agreement of, and through the Development Bank of the Caribbean, in conditions consistent with the principles of this Section, and as decided by the Donors Committee.

(d) The Fund's resources shall not be used to finance or defray any project costs incurred prior to the date on which the Fund's resources are available.

(e) The resources of an facility may be granted subject to contingent recovery of funds disbursed, where applicable. All amounts thus recovered shall be deposited in the account of the Multilateral Investment Fund for the Donors Committee to assign them in accordance with the provisions of Section 3 of Article 4.

(f) Only natural persons or donors ' companies, or regional developing countries, members of the Bank shall be eligible for tenders under the Fund's resources, except for developing countries Members of the Caribbean Development Bank shall be eligible for tenders under the financing referred to in paragraph (c) of this Section.

(g) The Fund's resources may not be used to finance any operation on the territory of a regional developing country member of the Bank if the country in question opposes such financing.

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ARTICLE 4. The Donors Committee.

SECTION I.

COMPOSITION.

Each donor will be able to participate in the meetings of the Donors Committee, and appoint a representative to attend the meetings, based on the appointment made by the Governor of the Bank for his country.

SECTION II.

FUNTIONS.

It will be the responsibility of the Donors ' Committee for the final approval of all proposals for the granting of the facility for technical cooperation, the facility of human resources and the facility for the promotion of small businesses, and all loan proposals, shares in the capital and any other financing from the Investment Fund for the small business.

SECTION III.

ALLOCATION OF RESOURCES BETWEEN FACILITIES.

The Donors Committee may allocate resources from the Fund at all times to any facility, including the Small Business Investment Fund, and may also determine that a specific percentage of the total assets of the Fund Fund is reserved for a particular facility, provided that the percentage does not exceed 40% (40%) of the total resources of the Fund for any of the facilities.

SECTION IV.

MEETINGS.

The Donors ' Committee will meet at the Bank's headquarters with the frequency of the Fund's operations. The Secretary of the Bank (acting as Committee Secretary) or any donor may convene a meeting. As necessary, the Donors ' Committee shall determine its organization, operating rules and procedures. The quorum at any of the meetings of the Donors Committee shall be the majority of all representatives representing no less than four fifths of all donor votes.

SECTION V.

VOTE.

Unless otherwise stated in this Convention, the Donors ' Committee shall take its decisions by a majority of three-quarters of all votes. The total votes of each donor shall be equal to the sum of their proportional votes and their basic votes. Each donor shall have a proportional vote for each hundred thousand dollars of the United States of America which has contributed in cash or in promissory notes (or similar securities) in accordance with the provisions of Section 2 of Article 2 or its equivalent in cash or promissory notes (or similar securities) which has contributed in freely convertible currencies, as provided for in Section 2 of Article 2. Each donor shall have the same basic votes, which shall be equal to the number of votes resulting from the distribution in equal parts among all donors of 20% (20%) of the total sum of the basic votes and the proportional votes of all donors.

SECTION VI.

REPORTS.

Once approved by the Donors ' Committee, the annual report presented in compliance with Section 2 (a) of Article 5 of the Management Convention will be referred to the Bank's Executive Board.

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ARTICLE 5o. Validity of the Convention.

SECTION I.

ENTRY INTO EFFECT.

This Convention shall enter into force on the date on which at least five of the probable donors listed in Annex A, the contributions of which are proposed in that Annex, shall be at least $800,000,000 of the United States of America. America, have deposited the documents referred to in Section 1 of Article 6.

SECTION II.

VALIDITY OF THIS CONVENTION.

This Convention shall be valid for a period of ten years from the effective date and may only be renewed for an additional period of five years. Before the end of the initial period, the Donors ' Committee shall consult with the Bank on the desirability of extending the operations of the Fund or any of the facilities during the renewal period. At that time the Donors Committee, with a majority of votes of at least two-thirds of the donors, representing at least three-quarters of all donor votes, may extend this Convention or any other the operations of any facility or fund for a period of renewal or period of less than that period.

SECTION III.

TERMINATION BY THE BANK OR THE DONOR COMMITTEE.

This Convention shall terminate in the event that the Bank suspends or terminates its own operations in accordance with Article X of the Organic Charter. The present Convention shall also terminate in the event that the Bank terminates the Management Convention in accordance with Section 3 of Article 6 of that Convention. The Donors ' Committee may at any time decide to terminate this Convention, any of the facilities or the Investment Fund for the small business with the vote of at least two thirds of the donors representing the At least three quarters of the total votes of the donors.

SECTION IV.

SETTLEMENT OF THE FUND ' S OPERATIONS.

(a) At the end of this Convention, the Donors ' Committee shall instruct the Bank to make a distribution among the donors of the Fund's assets once all liabilities are cancelled or provided. Such distribution of the remaining assets shall be made in proportion to the contributions in cash or by the collection of notes or similar securities as provided for in Section 2 of Article 2. Any outstanding balance in such notes or similar obligations will be cancelled;

(b) At the end of any of the facilities or the Investment Fund for the small business, and once the respective liabilities are settled or settled, the Donors ' Committee by a majority of votes of at least two thirds of the donors representing at least three quarters of the total votes of the donors, may determine the allocation or distribution of the remaining funds in the facility. Any distribution among donors shall be performed in the proportions referred to in paragraph (a) of this Section.

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ARTICLE 6o. General provisions.

SECTION I.

ACCESSION TO THIS CONVENTION.

This Convention may be signed by any likely donor. Any signatory of the Convention may become a donor under this Convention through the deposit with the Bank of a document of ratification, acceptance or approval, specifying that it has ratified, accepted or approved the Convention. Convention. Any member country of the Bank not listed in Annex A may accede to this Convention by depositing an acceptance document and a contribution document in the amount and on the dates and conditions approved by the Donors ' Committee. The decision shall be taken by a majority of votes of at least two-thirds of the donors representing at least three-quarters of the total votes of the donors.

SECTION II.

AMENDMENT.

(a) This Convention may be amended by the Donors ' Committee, which shall take such a decision by a majority of votes of at least two-thirds of the donors representing at least three-quarters of the total votes of the donors. Approval of all donors will be required to make an amendment to this Section, to the provisions of Section 3 of this Article that limit the liability of donors, or an amendment to increase obligations. financial or other donors, or an amendment to Section 3 of Article 5.

(b) Without prejudice to the provisions of paragraph (a) of this Section, any amendment to increase the obligations of existing donors under this Convention, or to presuppose the imposition of new obligations on donors will have effect for each of the donors who have notified their written acceptance to the Bank.

SECTION III.

LIMITATIONS OF LIABILITY.

In connection with the Fund's operations, the Bank's financial responsibility shall be limited to the resources and reserves (if any) of the Fund; the liability of the donors as such shall be limited to the unpaid portion of their respective funds. contributions that are due and payable.

SECTION IV.

RETIREMENT.

(a) Once the payment of the full conditional or unconditional contribution has been made, any donor may withdraw from this Convention by means of written notification to the Bank's headquarters. This separation shall be effective on the date indicated in such notification, but in no case before the six months following the date of delivery of such notification to the Bank. However, at any time before the separation is definitively effective, the Member State may notify the Bank in writing of its decision to revoke its notification of withdrawal intention;

(b) A donor who has withdrawn from this Convention shall continue to be liable for all its obligations under the Convention in force before the effective date of notification of withdrawal;

(c) All agreements entered into between the Bank and a donor, as provided by Section 7 of Article 7 of the Management Agreement, for the resolution of the respective claims and obligations, shall be subject to the approval of the Donantes ' Committee.

IN TESTIMONY OF WHICH, the probable donors, each acting through their authorized representative, have signed the present Convention.

Granted in the city of Washington, District of Colombia, on February 11, 1992, in a single original document, whose versions in Spanish, French, English and Portuguese are equally authentic, which will be deposited in the archives of the Bank, the which shall send a duly certified copy to each of the likely donors listed in Annex A to this Convention.

ANNEX A

Donor Contribution Quotas

to the Multilateral Investment Fund.

COUNTRY Contribution

on the dollar equivalent

of the United States of America (1)

Germany ... ... ... ... ... $30,000,000

Argentina ... ... ... ... ... 20,000,000

Brazil ... ... ... ... ..... ... 20,000,000

Canada ... ... ... ... ... ... ... 30.701,754

Chile ... ... ... ... ... ... 5,000,000

Colombia ... ... ... ... ... 5,000,000

Costa Rica ... ... ..... ... ... 600,000

El Salvador ... ... ...... ... ... 600,000

Spain ... ... ... ... ... ... 50,000,000

United States of America ... ... 500,000,000

France ... ... ... ... ....                  15,000,000

Guatemala ... ... ... ... 600,000

Honduras ... ... ... ... ... 600,000

Italy ... ... ... ... ... ... 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 the United States of America, converted to the representative exchange rate of the IMF based on the average of the daily exchange rates calculated during the period of six months ending on 30 November 1991.

By Argentina, CARLOS ORTIZ DE ROZAS, Ambassador of Argentina to the Government of the United States of America..........11/Feb.

Hair Brasil, RUBENS RICUBUT, Embaixador do Brasil together ao Governo dos E.A. .................................. 11 /Fev ./92 For Canada, DEREK H. BURNEY, Embassy of Canada to the United States of America...................................11/Feb. /92By Chile, PATRICIO SILVA ÉCHEIQUE, Ambassador of Chile to the Government of the United States of America...........11/Feb. /92By Colombia, JAIME GARCÍA PARRA, Ambassador of Colombia to the Government of the United States of America..........11/Feb. /92

By Costa Rica, GONZALO FACIO S., Ambassador of Costa Rica to the Government of the United States of America..........11/Feb. /92Pour la France, PHILIPPE ADHEMAR, Ministre Plenipotentiaire et Conseiller Financier pour l' Amérique du Nord.........11/Fev./92For Germany, FRITJOF VON NORDENSKJOLD, Charge d' Affairs 11 /Feb. /92For Guatemala, JUAN JOSÉ CASE FANJUL. Ambassador of Guatemala to the Government of the United States of America........11/Feb. /92By Honduras, JORGE HERNANDEZ A., Ambassador of Honduras

the United States Government of America...........11/Feb.

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. /92By Mexico, GUSTAVO PETRICIOLI I., Ambassador of Mexico to the Government of the United States of America...........11/Feb. /92By Nicaragua, ERNESTO PALAZIO, Nicaragua's Ambassador to the Government of the United States of America...........11/Feb. /92

By Peru, ROBERTO MACLEAN, Ambassador of Peru to the Government of the United States of America.......................11/Feb. /92By Portugal, MANUEL FRANCA E. SILVA, Director -Geral do Tesouro Ministerio das Financas.............................11/Fev./92By El Salvador, MIGUEL A. SALAVERRIA, Ambassador of El Salvador to the Government of the United States of America.....11/Feb. /92By Spain, JOSÉ ARANZADI MARTÍNEZ, 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. /92By Uruguay, EDUARDO MACGUILLICUDDY, Ambassador of Uruguay to the United States Government

america............11/Feb. /92By Venezuela, SIMON A. CONSALVI, Ambassador of Venezuela to the Government of the United States of America............11/Feb.

The undersigned Legal Secretary of the Ministry of Foreign Affairs,

NOTES:

This reproduction is a faithful photocopy of the certified text of the "Constitutional Convention of the Multilateral Investment Fund", signed in Washington on February 11, 1992, which rests with the Legal Secretariat of the Ministry.

Dada en Santafe de Bogota, D.C., at ten (10) days of the month of December of a thousand nine hundred and ninety-two (1992).

the Legal Subsection,

MARTHA ESPERANZA RUEDA MERCHAN.

Executive Branch of the Public Power-Presidency of the Republic.

Santafe de Bogota, D.C., December 15, 1992.

Approved, Sometase to the consideration of the honorable National Congress for the constitutional effects.

(Fdo.) CESAR GAVIRIA TRUJILLO

The Foreign Minister,

in charge of the functions

from the Minister's Office,

(Fdo) WILMA ZAFRA TURBAY.

DECRETA:

ARTICLE 1o. Approve the "Multilateral Investment Fund Constitutive Convention" and the "Multilateral Investment Fund Management Agreement", signed in Washington on 11 September. February 1992.

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ARTICLE 2o. Pursuant to the provisions of Article 1. of Law 7a. (a) 1944, the 'Convention of the Multilateral Investment Fund' and the 'Management Convention of the Multilateral Investment Fund', signed in Washington on 11 February 1992, as provided for in Article 1. of this Law are approved, will force the country from the date on which the international link with respect to it is perfected.

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ARTICLE 3o. The Ministry of Finance will make the necessary appropriations in the national budget to comply with the donation provided for in the Convention of the Multilateral Investment Fund.

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ARTICLE 4. This Law governs from the date of its publication.

The President of the Honorable Senate of the Republic,

JORGE RAMON ELIAS NADER

The Secretary General of the honorable Senate of the Republic,

PEDRO PUMAREJO VEGA

The President of the honorable House of Representatives,

JOSE JATTIN SAFAR

The Secretary General of the honorable House of Representatives,

DIEGO VIVAS TAFUR

COLOMBIA-NATIONAL GOVERNMENT

Contact and post.

Execute previous Constitutional Court review in accordance with the article

241-10 of the Political Constitution.

Dada en Santafe de Bogota, D. C., on January 17, 1994.

CESAR GAVIRIA TRUJILLO

The Deputy Foreign Minister,

in charge of the Dispatch functions

of the Minister of Foreign Affairs,

WILMA ZAFRA TURBAY.

The Deputy Minister of Finance and Public Credit,

in charge of the Dispatch functions

from the Minister of Finance and Public Credit,

HECTOR JOSE PIN CHAIN

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