Through Which The "agreement Establishing The Multilateral Investment Fund Ii" And "administration Agreement Multilateral Investment Fund Ii", Granted In Okinawa, Japan, The Ninth Day Of April 2005 Is Approved

Original Language Title: Por medio de la cual se aprueba el "Convenio Constitutivo del Fondo Multilateral de Inversiones II" y el "Convenio de Administración del Fondo Multilateral de Inversiones II", otorgados en Okinawa, Japón, el día noveno del mes de abril de 2005

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ACT 1246 2008
(November 19)
Official Gazette No. 47178 of November 19, 2008 CONGRESS OF THE REPUBLIC

Through which the "Agreement Establishing the Multilateral Fund approved investment II "and" Administration Agreement Multilateral investment Fund II ", granted in Okinawa, Japan, the ninth day of April 2005. Effective Jurisprudence


THE CONGRESS OF COLOMBIA
having regard to the text of the "Agreement Establishing the Multilateral Investment Fund II" and "Administration Agreement Multilateral Investment Fund II", granted in Okinawa, Japan, the ninth day of the month April 2005, which literally say:
(to be transliterated: photocopy of the full text of that instrument is attached).
FONDOMULTILATERAL AGREEMENT ESTABLISHING INVESTMENT II
9 April 2005
WHEREAS the Multilateral Investment Fund (hereinafter the "MIF I") was established under the Agreement Establishing the Multilateral Fund investment, dated February 11, 1992 (hereinafter, the "Agreement MIF I");
WHEREAS, the MIF I Agreement was renewed until 31 December 2007 in accordance with Section 2 of Article V thereof;
WHEREAS, in recognition of the need in the Latin America and the Caribbean in the sense of defining new ways to increase private investment and promoting private sector development, improve the business environment and support microenterprise and small business to support economic growth and poverty reduction, donors that adhered to the MIF I Agreement and prospective donors listed in Annex a to this Agreement Establishing the Multilateral Investment Fund II (the "MIF II Agreement") (each, hereinafter a "Prospective Donor") desire to ensure continuity of the activities of MIF I beyond December 31, 2007 and lead to a MIF I extended ( hereinafter the "MIF II or the" Fund ") at the Inter-American Development Bank (hereinafter the" Bank "), which will have assumed the assets and liabilities of the MIF I; and WHEREAS
Donors Likely intend to follow the MIF II complementing the work of the Bank, the Inter-American Investment Corporation (hereinafter referred to as the "CII") and other multilateral development banks, in accordance with terms of this instrument, and the intention of the administration of MIF II by the Bank to proceed in accordance with the administration Agreement Multilateral Investment Fund II, of the same date as this instrument (hereinafter the "Convention MIF II administration ")
THEREFORE, the Prospective Donors, through this instrument, agree as follows: ARTICLE I


GENERAL PURPOSE AND FUNCTIONS Section 1. overall objective.
The overall objective of the MIF II is to support the economic growth and poverty reduction of regional developing member countries of the Bank and the developing member countries of the Caribbean Development Bank (hereinafter the "BDC"), by promoting increased private investment and promoting private sector development.
Section 2. Functions.
To fulfill its objective, the MIF II shall have the following functions:
(a) Promote activities to improve the business environment in regional developing member countries of the Bank and the developing member countries of the BDC;
(B) Increase the competitiveness of the private sector in the region;
(C) To promote microenterprise and small business, as well as other business activities;
(D) Promoting regional integration efforts;
(E) Share knowledge that contributes to the development of the private sector and particularly the microenterprise and small business;
(F) Promote the use and application of technology in the region;
(G) encourage the implementation of innovative initiatives;
(H) complement the work of the Bank, the IIC and other multilateral development banks;
(I) promoting the development of appropriate policy and legal reforms; and
(j) promote environmentally sound and sustainable economic development and gender equality, across the range of its operations. ARTICLE II


CONTRIBUTIONS TO THE FUND Section 1. Instruments of acceptance and contribution.

(A) As soon as reasonably possible after depositing the instrument indicating that it has ratified, accepted or approved this MIF II Agreement (hereinafter referred to as an "Instrument of Acceptance"), but no later than sixty (60) days thereafter, each Prospective Donor shall deposit with the Bank an instrument through which agrees to pay to the Fund the amount set forth next to its name in Schedule a (hereinafter referred to as an "instrument of Contribution") , which made a likely donor will become a "Donor" under this MIF II Agreement.
(B) A donor must agree to pay its contribution in six identical annual installments (hereinafter referred to as a "contribution Unconditional") in accordance with the Instrument of Contribution. Donors which have deposited an Instrument of Contribution prior to the date of entry into force of this MIF II Agreement set forth in Section 1 of Article V (hereinafter referred to as the "Effective Date MIF II"), on that date or within sixty (60) days after the same may defer payment of the first installment until the sixtieth day after such Effective Date MIF II. Any Donor that deposits an Instrument of Contribution more than sixty (60) days after the Effective Date MIF II will pay on the date of the deposit both the first installment and any subsequent installment whose due date has expired. Each Donor shall pay each subsequent installment in accordance with a schedule agreed upon by the Donors.
(C) Notwithstanding paragraph (b) of this Section regarding Unqualified Contributions, as an exceptional case, a Donor may provide in its Instrument of Contribution that payment of all fees will be subject to subsequent budget allocations, pledging to seek to obtain the necessary appropriations to pay the full amount of each installment for the payment dates indicated in paragraph (b) (hereinafter a "Qualified Contribution"). The payment of any installment due after any such date of payment shall be made within thirty (30) days of obtaining the required assignments.
(D) In ​​the event that a Donor which has made a Qualified Contribution not obtain the necessary budget allocations to pay in full any quota for the dates paragraph (b) refers to, any Donor who has completed on time all the relevant quota may, after consultation with the committee established under Article IV (hereinafter the "Donors Committee"), indicate in writing the Bank to limit commitments under that quota. This limitation shall not exceed the percentage that represents the unpaid portion of the fee, payable by the Donor which has made the Qualified Contribution, relative to the total amount of the fee payable by that Donor, and not remain in effect but for the period that unpaid portion is outstanding.
(E) Any member of the Bank, whose name does not appear in Annex A and to become Donor pursuant to Section 1 of Article VI or any Donor which, subject to approval by the Donors Committee, want to increase its contribution above the amount specified in Annex a, will make a contribution to the Fund by depositing an Instrument of contribution under which agrees to pay a certain amount and on dates and conditions approved by the Donors Committee, provided that the first installment paid by a donor that is not listed in Annex a is for enough to put that Donor to date in the payment of quotas amount, and thereafter the payment of fees that donor is carried out in accordance with schedule referred to in paragraph (b) of this Section.
(F) The Fund shall not exceed the sum of the total amounts listed in Annex A plus the amounts indicated in the instruments of contribution deposited as provided in paragraph (e).
Section 2. Payments.

(A) they are due pursuant to this article payments will be made in any freely convertible currency determined by the Donors Committee, or non-negotiable promissory notes that do not accrue interest (or similar securities), called in such currency and payable upon submission, in accordance with the criteria and procedures established by the Donors Committee to meet the operational commitments of the Fund. Payments to the Fund in freely convertible currency transferred from a trust fund of a Donor shall be considered made on the date of transfer and counted against the amounts due from that Donor.
(B) Such payments shall be made in one or more accounts opened by the Bank especially for this purpose; the aforementioned notes are deposited in that account or the Bank, as it determines.
(C) To determine amounts due for each Donor payments in a convertible currency other than the US dollar, the US dollar amount indicated next to its name in Annex A is converted to payment currency depending on the exchange rate as the International Monetary Fund (IMF) for that currency, based on the calculation of the average daily exchange rates during the six months ended 31 December 2004. ARTICLE
III

FUND OPERATIONS Section 1. General provision.
The Fund has a distinct role within its association with the Bank and the IIC and may complement or support the activities of such entities as directed by the Donors Committee. To meet its goal of providing support for economic growth and poverty reduction by promoting increased private investment and promote the development of the private sector, the Fund, in cases where appropriate, be based on strategies and Bank policies for the private sector and programs of the same for the respective country, as well as other policies of the Bank and the IIC.
Section 2. Operations.
(A) To fulfill its objective, the Fund will provide financing in the form of grants, loans, guarantees or any combination of these modalities, and as provided in subsection (b) of this section, also in the form of investments equity and quasi-equity or any combination of these; provided, however, that the Fund retains its essential character bestower of gifts, comparable to those of historical practice MIF levels I.
Also, the Fund may provide advisory services. Financing and advisory services may be offered to governments, government agencies, subnational entities, non-governmental organizations, private sector entities or otherwise, in support of operations contributing to the achievement of the objective of the Fund. Among other activities, the Fund's operations may be directed to:
(i) To support improvements in the business environment, focusing on promoting efficient practices, transparent and accountable market, supporting the implementation of reforms in appropriate legal and regulatory areas and promoting the implementation of international norms and standards;
(Ii) Support activities that increase the private sector's ability to generate income, create employment opportunities, develop workforce skills, utilize technology and achieve sustainable growth, with a focus on microenterprise and small business approach ;
(Iii) Define operational and business models and innovative networks that contribute to the development process; bring together the public and private sectors in collaborative ventures; promote socially responsible methods of doing business;
and (iv) share the knowledge gained and lessons learned from its initiatives.

(B) In addition, in order to achieve the objective of the Fund will remain in its structure the Investment Fund for Small Enterprises (hereinafter referred to as the "FIPE"), which, at all times and for all purposes, It will be maintained, used, obligated, invested and accounted for separately from other resources of the Fund. Resources FIPE may be used to make loans, provide guarantees and to make equity investments and quasi-equity or any combination of these modalities, directly or through intermediaries, private sector entities that are creating or expanding the range of services for micro and small enterprises or they are granting them funding or resources to invest in them. The Donor Committee will establish the basic terms and conditions of such loans, guarantees and investments, with due regard to the corresponding repayment prospects. All amounts received by the Bank from operations of FIPE, either as dividends, interest or otherwise shall be deposited in the Fund's account.
Section 3. Principles applicable to the Fund's operations.
(A) Financing by the Fund shall be granted under the terms and conditions of this MIF II Agreement, in accordance with the rules set out in Articles III, IV and VI of the Agreement Establishing the Inter-American Development Bank (hereinafter the "Charter") and, where appropriate, with Bank policies applicable to their own operations and with the rules and policies of the IIC. All regional developing member countries of the Bank and CDB are potentially eligible for financing from the Fund to the extent that they are eligible for Bank financing.
(B) The Fund will continue its practice of sharing the cost of operations with executing agencies, encouraging appropriate counterpart funding and observe the principle of not displace private sector activities.
(C) When deciding on grantmaking, the Donors Committee shall pay particular attention to the commitment of member countries concerned in terms of poverty reduction, the social cost of economic reforms, financial needs potential beneficiaries and the relative levels of poverty in these countries.
(D) Funding in the territories of countries that are members of the BDC but not the Bank will be granted in consultation with the BDC, with such agreement or through it, in terms consistent with the principles outlined in this section and as decided by the Donors Committee.
(E) Fund resources will not be used to finance or cover project expenses incurred prior to the date on which such resources may be available.
(F) Donated resources may be granted subject to contingent recovery of funds disbursed, where appropriate.
(G) The Fund may not be used to finance an operation on the territory of a regional developing member country of the Bank if that member objects to such financing.
(H) The Fund's operations shall include specific goals and measurable results. The effect of the Fund's operations in development will be measured in accordance with a system that takes into account the purpose and functions of this as set forth in Article I and subject to best practices regarding:
(i) indicators, disbursement speed, degree of innovation, ability to disseminate lessons learned and performance in project implementation;
(Ii) A framework for evaluating individual projects and operations groups as well as ex post evaluations;
and (iii) public dissemination of results.
(I) The Fund's operations are designed and implemented in a way that their efficiency and maximize impact on development, with particular emphasis on the ex ante assessment of risks and the strengthening of the executing agencies. The Donors Committee may approve partnering with local entities for the preparation and implementation of projects. ARTICLE IV


DONORS COMMITTEE Section 1. Composition.
Each Donor may participate in meetings of the Donors Committee and appoint a representative to attend them.
Section 2. Responsibilities.

The Donors Committee shall be responsible for the final approval of all proposed operations of the Fund, seeking to maximize the comparative advantage of this by operations with significant benefits in terms of development, efficiency, innovation and impact in accordance with Fund functions as are specified in Section 2 of Article I. the Donors Committee shall consider operations that conform to these functions, and shall not consider or phased out, which do not.
Section 3. Meetings.
The Donors Committee shall meet at the headquarters of the Bank, with the frequency required by the Fund's operations. They may convene a meeting the Secretary of the Bank (acting as Secretary of the Committee) or any Donor. As needed, the Donors Committee shall determine its organization and its operating rules and procedure. 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. The Prospective Donors may attend meetings of the Donors Committee as observers. Section 4. Voting
.
(A) The Donor Committee will pursue its decisions by consensus. If such a consensus can not be reached after reasonable efforts, and unless otherwise specified in this MIF II Agreement indicated, the Donors Committee shall take decisions by a majority of three quarters of the total voting power.
(B) The total voting power of each Donor will be equal to the sum of its proportional votes and its basic votes. Each Donor shall have one proportional vote for each one hundred thousand US dollars contributed in cash, promissory notes or similar securities (or the equivalent in other freely convertible currencies) in accordance with the provisions of Section 2 of Article II of this Agreement MIF II and Section 2 of Article II of the Convention MIF I. Each Donor shall also have basic votes, equivalent to the number of votes resulting from the equal distribution among all donors, a number of votes equal to twenty percent (25%) of the total sum of the proportional votes of all the Donors.
Section 5. Reporting and assessment.
Once approved by the Donors Committee, the annual report submitted under Section 2 (a) of Article V of the Convention MIF II Administration will be forwarded to the Executive Board of the Bank. At any time after the first anniversary of the Effective Date MIF II, and at least every five years after that anniversary, the Donors Committee shall request an independent evaluation by the Office of Monitoring and Evaluation of the Bank, under to the Fund, so that it analyze the results of this in light of the purpose and functions of this MIF II Agreement; this evaluation will continue to include an assessment of the results of project groups, based on benchmarks and indicators, as to aspects such as relevance, effectiveness, efficiency, innovation, sustainability and additionality, and as to the progress on the implementation of the recommendations adopted by the Donors Committee. Donors will meet to discuss each of these independent evaluations, no later than the next annual meeting of the Board of Governors of the Bank. ARTICLE V

BARGAINING AGREEMENT
MIF II Section 1. Entry into force.
This MIF II Agreement shall enter into force on such earlier date as of December 31 2007 or coincident with that day, in which the Prospective Donors representing at least sixty percent (60%) of the total amount set for the Fund in Annex a have deposited their instruments of contribution, at which time the MIF I Agreement MIF II will end and will assume all assets and liabilities
MIF I. Section 2. Term of this Agreement MIF II.
This MIF II Agreement shall remain in force until December 31, 2015 and may be renewed for one additional period of up to 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 for the extension period. At that time the Donors Committee, acting by a majority of at least two-thirds of the Donors representing at least three-fourths of the total voting power of the Donors, may extend the term of this Agreement MIF II the agreed extension period.

Section 3. Termination by the Bank or the Donors Committee.
This MIF II Agreement will be terminated in the event that the Bank suspends its own operations or terminate the same in accordance with Article X of its Articles of Agreement. In addition, this MIF II Agreement will be terminated in the event that the Bank terminates the Administration Agreement MIF II in accordance with Section 3 of Article VI thereof. The Donors Committee may terminate at any time the MIF II Agreement, with the vote of at least two-thirds of the Donors representing at least three-fourths of the total voting power of the Donors.
Section 4. Distribution of the Fund's assets.
At the termination of this MIF II Agreement occur, the Donors Committee shall direct the Bank to make it a distribution of assets to Donors after all the liabilities of the Fund have been canceled or provisioned. Any distribution is made and the remaining assets shall be in proportion to the proportional votes of each Donor under Section 4 of Article IV. Balances remaining in any of the corresponding notes or similar securities will be canceled to the extent that no payment is required from those balances to meet the financial obligations of the Fund. ARTICLE VI


GENERAL PROVISIONS Section 1. Adherence to this MIF II Agreement.
This MIF II Agreement may be signed by any member of the Bank which is not listed in Annex A. Each signatory of such may accede to this MIF II Agreement and become a donor by depositing an instrument of acceptance and instrument of Contribution in the amount and on dates and conditions approved by the Donors Committee, which will decide by majority vote of at least two-thirds of the Donors representing at least three-quarters of all the Donor votes. Section 2. Changes
.
(A) This MIF II Agreement may be amended by the Donors Committee, which will make its decision by majority vote of at least two-thirds of the Donors representing at least three-quarters of all of the votes of the Donors. the approval of all Donors shall be required for an amendment to this section, the provisions of Section 3 of this Article limiting the liability of Donors, or to an amendment by which financial obligations are increased or other nature of Donors, or an amendment to section 3 of Article V.
(b) Notwithstanding the provisions of paragraph (a) of this section, any amendment increasing the existing obligations of the Donors under this MIF II Agreement or involves new obligations for donors enter into force for each Donor which has notified the Bank in writing their acceptance. Effective Jurisprudence


Section 3. 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 of the Fund (if any), and the liability of Donors as such shall be limited to the unpaid portion of their respective contributions that is due and payable.
Section 4. Withdrawal.
(A) Upon the payment of all its conditional or unconditional Contribution, any Donor may withdraw from this MIF II Agreement giving the headquarters of the Bank written notice of its intention to withdraw. This separation will become finally effective on the date specified in such notice, but in any case within six (6) months from the date of delivery of such notice to the Bank. However, at any time before the separation takes effect definitively, the Donor may notify the Bank in writing revoking the notification of its intention to withdraw.
(B) a donor who has withdrawn from this MIF II Agreement will remain responsible for all obligations under this MIF II Agreement in force prior to the effective date of notification of withdrawal.
(C) The agreements between the Bank and a Donor pursuant to the provisions of Section 7 of Article VII of MIF II Administration Agreement for the settlement of the respective claims and obligations shall be subject to the Donors Committee approval.
Section 5. MIF Donors I.

Notwithstanding any provision to the contrary in this MIF II Agreement, all countries listed in Annex A that adhered to the MIF I Agreement shall have all the rights afforded to "Donors" under this Convention MIF II immediately upon completion of the MIF II Effective Date way.
IN WITNESS WHEREOF each of the Prospective Donors, acting through its duly authorized representative, has signed this MIF II Agreement.
Awarded in Okinawa, Japan, the ninth day of April 2005 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 send a certified copy thereof to each of the prospective donors listed in Schedule a of this MIF II Agreement.

ANNEX A CONTRIBUTION OF LIKELY TO DONORS MULTILATERAL INVESTMENT FUND II
PaísContribución in the dollar equivalent of the United States of America [1]

Argentina $ 8,331,000 Bahamas500,000 || | Barbados400,000 Belice362,000


Bolivia362,000 Brasil8,331,000 Canadá30,000,000


Chile3,000,000 Colombia3,000,000 Corea50,000,000

Costa Rica362,000 Ecuador362,000


The Salvador362,000 España70,000,000 United América150,000,000


Francia15,000,000 Guatemala362,000 Guyana350,000
| Honduras362,000 Haití300,000 ||


Italia10,000,000 Jamaica400,000 Japón70,000,000


México8,331,000 Nicaragua362,000 Bajos18,882,175 Countries ||
| Panamá362,000 Paraguay450,000


Perú3,300,000 Portugal3,000,000 United Unido22,095,378


Republic Dominicana362,000 Suecia5,000,000 Suiza7,500,000
|| | Surinam100,000 Trinidad and Tobago600,000


Uruguay1,000,000 Venezuela8,331,000 Total $ 501,821,553

Republic Argentina, Oscar Tangelson. Commonwealth of the Bahamas, James H. Smith. Barbados, Tyrone Barker. Belize, Salvador Figueroa. Republic of Bolivia, Luis Carlos Jemio. Federative Republic of Brazil, Paulo Bernardo Silva. Canada, Roger Ehrhardt. Republic of Chile, Luis Eduardo Escobar. Republic of Colombia, María Inés Agudelo.República of Costa Rica, Gilberto Barrantes. Republic of Peru, Pedro Pablo Kuczynski. Republic of Ecuador, Javier Game B. Republic of Panama, Alfredo Martiz. République Française, Odile Renaud-Basso. Kingdom of the Netherlands, GPMH
Steeghs. Cooperative Republic of Guyana, Saisnarine Kowlessar. Republic of Korea, Han Duck-Soo. Republic of Honduras, William Chong. Jamaica, Paul Robotham. Kingdom of Spain, David Vergara Figueras. Republic of Suriname, Humphrey Stanley Hildenberg. Kingdom of Sweden, Stefan Emblad. Confédération Suisse, Oscar Knapp. Republic of Trinidad and Tobago, Camilla Robinson-Regis. United Kingdom, United Status of America, John B. Taylor. Oriental Republic of Uruguay, Danilo Astori. Bolivarian Republic of Venezuela, Eudomar Tovar.
Administration Agreement MULTILATERAL INVESTMENT FUND II
9 April 2005
WHEREAS the Multilateral Investment Fund (hereinafter the "MIF I") was established under the Articles of Agreement of the Fund multilateral Investment, dated February 11, 1992 (hereinafter, the "Agreement MIF I"), and is administered by the Inter-American Development Bank (hereinafter the "Bank") in accordance with the Convention Administration of the Multilateral Investment Fund of the same date (hereinafter referred to as the "Administration Agreement MIF I");
WHEREAS the MIF I Agreement was renewed until 31 December 2007 in accordance with Section 2 of Article V thereof; WHEREAS
Administration Agreement MIF I was also renovated at the same time and remain in force during the period they remain the MIF I Agreement, as provided for in Section 2 of Article VI thereof;
WHEREAS the date of this document, have signed the Agreement Establishing the Multilateral Investment Fund II (hereinafter the "MIF II Agreement") the prospective donors whose names are listed in Annex A thereto ( each one of them a "Prospective Donor" and when acceding to MIF II Agreement as provided in Section 1 (a) of Article II, considered a "Donor"), in order to ensure continuity of activities MIF I beyond December 31, 2007 and result in an expanded MIF I (hereinafter the "MIF II" or the "Fund") in the Bank;

Probable whereas donors are equally willing to approve this Administration Agreement Multilateral Investment Fund II (hereinafter referred to as the "Administration Agreement MIF II"), which, upon entry into force of the Convention MIF II , will replace the Administration Agreement MIF I;
WHEREAS the Fund can continue to complement the work of the Bank, the Inter-American Investment Corporation (hereinafter referred to as the "CII") and other multilateral development banks in accordance with the terms of the MIF II Agreement;
and WHEREAS the Bank to fulfill its objectives and carry out its functions, it is committed to continue administering as provided in the MIF II Agreement the Fund.
THEREFORE, the Bank and the Prospective Donors, through this instrument, agree as follows: ARTICLE I


FUND MANAGEMENT The Bank will continue to act as administrator of the Fund. The Bank shall administer the Fund and carry out its operations in accordance with the MIF II Agreement and provide depositary services and other services that are related. The Bank will maintain the Office of the Multilateral Investment Fund as the office within the Bank's organization responsible for managing and carrying out the operations and programs of the Fund as provided in this Agreement MIF II Administration. ARTICLE II


OPERATIONS OF THE FUND Section 1. Operations.
(A) In the administration of the Fund and the execution of its operations, the Bank shall have the following responsibilities:
(i) Identify, develop, prepare and propose or arrange the identification, development and preparation the operations financed from the Fund;
(Ii) Develop, or make available, memoranda or information on proposed activities for the Donors Committee (as defined in Section 1 (d) of Article II of the Convention MIF II), for transmission or distribution the Executive Board of the Bank, at least quarterly for information;
(Iii) submit proposals for specific operations to the Donors Committee for final approval;
(Iv) Identify and present areas of strategic focus, consistent with the MIF II Agreement for consideration by the Donors Committee;
(V) Implement and monitor, or provide for the execution and supervision of all operations approved by the Donors Committee;
(Vi) To introduce a system of measuring the results of operations, depending on the criteria set out in Article III, Section 3 (h) of the MIF II Agreement;
(Vii) Manage the accounts of the Fund, including investment of its resources as stipulated in Section 1 (c) of Article IV of this Convention MIF II Administration;
and (viii) To disseminate the lessons learned from the operations and activities of the Fund in order to promote the exchange of knowledge, improve project design, strengthen the capacity of private sector partners and muster the private sector in the development process.
(B) Subject to the approval of the Donors Committee, the Bank may request the IIC administer or execute operations or individual programs when those operations and programs correspond to the capacity and competence of the IIC.
(C) The President of the Bank shall be ex officio Chairman of the Donors Committee. The Secretary of the Bank shall act as secretary of the Donors Committee and shall provide secretariat services, facilities and other support services to facilitate the work of the Donors Committee. In performing these functions, the Secretary shall call meetings of the Donors Committee, and with a minimum of fourteen (14) days to a meeting, distributed to representatives of donor designated under the provisions of Section 1 Article IV of the Convention MIF II, the main documents relating to it and the respective agenda.
Section 2. Limitations on commitments.
The Bank shall restrict commitments to the extent directed by a Donor pursuant to the provisions of Section 1 (d) of Article II of the Convention MIF II. ARTICLE III


DEPOSITARY FUNCTIONS Section 1. Depositary of agreements and documents.
The Bank shall be the depositary of this Convention MIF II Administration of MIF II Agreement, the Instruments of Acceptance and Contribution (as defined in Section 1 (a) of Article II of the Convention MIF II) and all other documents relating to the Fund.
Section 2. Opening accounts.

The Bank shall open one or more accounts of the Bank as administrator of the Fund, in order to deposit them payments made by donors, as provided for in Section 2 of Article II of the Convention MIF II. The Bank will administer them in accordance with the provisions of this Convention MIF II Administration.

ARTICLE IV AUTHORITY OF THE BANK AND OTHER MATTERS Section 1. Basic Capacity
.
(A) The Bank states that, under the provisions of Section 1 (v) of Article VII of the Agreement Establishing the Inter-American Development Bank (hereinafter the "Charter"), has capacity for to carry out the provisions of this Convention MIF II Administration and activities undertaken pursuant to this Convention will contribute to the achievement of the objectives of the Bank.
(B) Unless otherwise indicated in the text of this Convention MIF II Administration, the Bank will have the ability to engage in activities and enter into all contracts necessary to perform its functions under this Agreement.
(C) The Bank will invest the Fund's resources, which are not necessary for its operations, in the same type of securities in which it invests its own resources in the exercise of their capacity for investment.
Section 2. Standard of care.
In the performance of their duties, pursuant to the provisions of this Convention MIF II Administration, the Bank will act with the same care as exercised in the administration and management of their own affairs. Section 3. Expenses
Bank.
(A) The Bank shall be fully reimbursed by the Fund, in respect of all direct and indirect costs incurred in carrying out activities related to the Fund and CII activities, including the remuneration of Bank staff for the time actually spent on administration of the Fund, travel expenses, per diem, communication expenses and any other similar expenses directly identified, calculated and recorded separately as expenses of administering the Fund and execution of operations.
(B) The procedure for determining and calculating costs incurred to reimburse the Bank, and the criteria governing the reimbursement of expenses described in paragraph (a), established by mutual agreement between the Bank and the Donors Committee pursuant to the Administration agreement MIF I, shall continue in force and may be revised from time to time a proposal by the Bank or the Donors Committee, and the application of any changes resulting from such review shall require agreement of the Bank and Donor Committee.
Section 4. Cooperation with national and international organizations.
In the administration of the Fund, the Bank may consult and collaborate with both national and international public and private organizations, operating in the areas of social and economic development, where this would contribute to achieving the purpose of the Fund or maximize efficient use of its resources.
Section 5. Evaluation of projects.
Addition to evaluations requested by the Donors Committee, the Bank will assess the operations I have undertaken under the present Convention MIF II Administration and send a report on these evaluations to the Donors Committee, in accordance with the provisions in Section 5 of Article IV of the Convention MIF II. ARTICLE V


ACCOUNTING AND REPORTING Section 1. Separation of accounts.
The Bank will separate accounts and records of the resources and operations of the Fund and the Investment Fund for Small Business that Section 2 (b) of Article III of the Convention refers MIF II (hereinafter the "FIPE"), so that they can identify the assets, liabilities, income, costs and expenses relating to the Fund and FIPE, separately and independently from the rest of the Bank's operations. The accounting system will also identify and record the origin of the various funds received under this Agreement MIF II Administration and the funds generated by them, and their application. Fund accounting is kept in dollars of the United States of America, which currency conversions shall be made at current exchange rate applied by the Bank at the time of each transaction.
Section 2. Reporting.
(A) While this Agreement MIF II Administration is in force, the Bank's management will present, through an annual report to the Donors Committee, within ninety (90) days following the close of the exercise tax, the following information:

(I) A statement of assets and liabilities of the Fund and the FIPE, a statement of income and cumulative expenditures for the Fund and the FIPE, and a state of origin and destination of the Fund and FIPE, accompanied of the explanatory notes appropriate;
(Ii) Information on the progress and outcome of projects, programs and other operations of the Fund and the FIPE, and the status of applications submitted to the Fund and the FIPE;
and (iii) Information on the results of the Fund's operations based on the criteria in Section 3 (h) of Article III of the Convention MIF II.
(B) The reports referred to in paragraph (a) of this section shall be prepared in accordance with accounting principles used by the Bank with its own operations and shall be accompanied by an opinion issued by the same independent firm of accountants public appointed by the Board of Governors of the Bank to audit its own financial statements. The fees of such independent accountants will be paid to the Fund.
(C) The Bank shall prepare an annual report and quarterly reports on receipts and disbursements, and fund balances and FIPE.
(D) The Donors Committee may also request the Bank, or public accountants firm referred to in paragraph (b), to provide any reasonable information concerning the operations of the Fund and the audit report presented.
(E) The accounts of FIPE will be separately from other resources of the Fund. ARTICLE VI

term of the Administration Agreement
MIF II Section 1. Entry into force.
This Administration Agreement MIF II shall enter into force on the same date on which the Convention enters into force MIF II.
Section 2. Duration.
(A) This Convention MIF II Administration remain in force throughout the duration of the MIF II Agreement. Upon termination of this MIF II Agreement, or this Agreement MIF II Administration under the provisions of Section 3 of this Article, this Convention MIF II Administration shall continue in force until the Bank completes its functions relating to the liquidation of the Fund's operations or grudge match, as provided in Section 4 (a) of Article VI of the MIF II Agreement.
(B) Before the end of the initial period under Part 2 of Article V of the MIF II Agreement, the Bank shall consult with the Donors Committee whether or not it is advisable to extend the Fund's operations or during FIPE renewal period specified in this MIF II Agreement.
Section 3. Termination by the Bank.
The Bank shall terminate this Agreement MIF II Administration in the event that it suspends its own operations, in accordance with Article X of Agreement, or cease its operations in accordance with the same Article of Articles of agreement. The Bank shall terminate this Agreement MIF II Administration if an amendment to the MIF II Agreement requires the Bank, in the performance of their obligations under the Convention, act in contravention of its own Articles of Agreement.
Section 4. Settlement of the Fund's operations.
Upon completion of the MIF II Agreement or FIPE, the Bank will cease all activity carried out in compliance with this Convention MIF II Administration or FIPE, except those that were necessary for the purposes of realization, conservation and preservation ordered assets and for adjustment of outstanding obligations. Once settled or provided all corresponding liabilities to the Fund or FIPE, the Bank distribute or allocate the remaining assets following the instructions of the Donors Committee, in accordance with the provisions of Section 4 of Article V of the MIF II Agreement. ARTICLE VII


GENERAL PROVISIONS Section 1. Contracts and Bank documents on behalf of the Fund.
In the contracts signed as administrator of the Fund, and the implementation of its operations, as well as all documents relating to the Fund, the Bank shall indicate clearly that it is acting as administrator of the Fund.
Section 2. Responsibilities of Bank and Donors.

The Bank may not benefit in any case the profits, gains or benefits arising from financing, investments and any other operation carried out under the Fund. No financing operation, or other investment that is made under the Fund establish an obligation or financial liability of the Bank to donors; in the same way, donors are not entitled to demand compensation to the Bank for any loss or deficiency that may occur as a result of an operation, except in cases where the Bank has acted outside the written instructions of the Donors Committee or has not acted with the same level of care used in the management of their own resources.
Section 3. Adherence to this Convention MIF II Administration.
Any member of the Bank which is not listed in Annex A of the MIF II Agreement may accede to this Convention MIF II Administration by signing after joining the MIF Convention
II, in accordance with in Section 1 of Article VI of the MIF II Agreement. The Bank will sign this Convention MIF II Administration by signing a duly authorized representative.
Section 4. Amendment.
This Administration Agreement may only be amended MIF II where agreed by the Bank and the Donors Committee, which shall take this decision by a majority vote of at least two-thirds of the Donors representing at least three-quarters of the total voting power of the Donors. the approval of all Donors shall be required for an amendment to this section or an amendment affecting financial or other obligations of Donors. Effective Jurisprudence


Section 5. Settlement of disputes.
Any dispute arising under this Agreement MIF II Administration between the Bank and the Donors Committee, and which is not settled by consultation, shall be settled by arbitration, as provided in Annex A to this Agreement . Any arbitral award shall be final and will be implemented by a Donor, Donors or the Bank, in accordance with its constitutional procedure or with the Articles, respectively Convention.
Section 6. Limitation of Liability.
Respect to the Fund's operations, financial liability of the Bank shall be limited to the resources and reserves (if any) of the Fund; Donor responsibility as such is limited to the unpaid portion of their respective contributions that has become due and payable in accordance with MIF II Agreement.
Section 7. Withdrawal of a donor as part of the MIF II Agreement.
On the date that notice of its intention to withdraw is effective under the provisions of Section 4 (a) of Article VI of the MIF II Agreement, the Donor that submitted the notification is deemed to be withdrawn for the purpose of this Administration Agreement MIF II. Without prejudice to the provisions of Section 4 (b) of Article VI of the MIF II Agreement, the Bank, subject to approval by the Donors Committee, will conclude an agreement with the donor concerned to settle their respective claims and obligations.
IN WITNESS WHEREOF, the Bank and each of the Prospective Donors, each acting through its authorized representative, have signed this Convention MIF II Administration.
Awarded in the city of Okinawa, Japan, the ninth day of April 2005 in a single original document, of which the English, French, Portuguese and Spanish are equally authentic, to be deposited in the archives of the Bank which shall transmit a certified copy thereof to each of the prospective donors listed in Schedule a of the MIF II Agreement.
ANNEX A ARBITRATION PROCEDURE


ARTICLE I COMPOSITION OF THE COURT

The Court of Arbitration to resolve those disputes referred to in Section 5 of Article VII of the Administration Agreement Multilateral Investment Fund II (hereinafter referred to as the "Administration Agreement MIF II") will consist of three (3) members, who shall be appointed as follows: one by the Bank, another by the Donors Committee, and a third, hereinafter called the "referee", by direct agreement between the parties or through their respective arbitrators . If the parties or the arbitrators shall agree regarding the person of the Referee, or if one of the parties fails to appoint an arbitrator, the Referee shall be appointed at the request of either party by the Secretary General of the Organization of American States American people. If one of the parties fails to appoint an arbitrator, this will be appointed by the Referee. If any of the arbitrators or the Referee is unwilling or unable to act or continue to act, proceed to the replacement in the same manner as for the original appointment. The successor shall have the same powers and duties as his predecessor. ARTICLE II


INITIATION OF THE PROCEDURE To submit the dispute to arbitration, the claimant shall address to the other a written communication setting forth the nature of the claim, satisfaction or compensation which it pursues and the name of designated arbitrator. The party receiving such communication shall, within forty-five (45) days, notify the other party the name of the person appointed as an arbitrator. If within thirty (30) days from the delivery of such notification to the claimant, the parties have not agreed as to the person of the Referee, either party may appeal to the Secretary General of the organization of American States to proceed with this designation. ARTICLE III


ESTABLISHMENT OF THE COURT The Court of Arbitration was convened in Washington, District of Columbia, United States of America, on the date designated by the Referee and, once established, will meet on dates set by the Court itself. ARTICLE IV PROCEDURE


(a) The Court will only have jurisdiction to hear the points of the dispute. It shall adopt its own procedure (which may be the procedure of renowned arbitration association) and may on its own initiative, appoint experts as it deems necessary. In any case, you must give the parties the opportunity to present oral submissions at a hearing.
(B) The Court will rule on an equitable basis, based on the terms of the Administration Agreement MIF II, and shall issue its ruling even if either party act in absentia.
(C) The award shall be in writing and shall be adopted with the concurrent vote of at least two members of the Court. This must be issued within approximately sixty (60) days from the date of appointment of the Referee, unless the Tribunal determines that, due to special and unforeseen circumstances, such period should be extended. The award shall be notified to the parties in communication signed by at least two members of the Tribunal. ARTICLE V EXPENSES


The fees of each arbitrator shall be borne by the party who appointed him and the fees of the Referee shall be borne equally by the two parties. These agreed, before constituting the Court, the fees of the other people who agree that mutually agreed to intervene in the arbitration procedure. If the agreement does not occur promptly, the Court itself shall determine the compensation that is reasonable for such persons taking into account the circumstances. Each party shall bear its own costs in the arbitration proceedings, but the expenses of the Tribunal shall be borne equally by the parties. Any doubt regarding the division of costs or how to be paid shall be determined by the Court without further appeal. Any fees or expenses pending payment by the Donors Committee under this Article shall be paid from the Fund administered under the Administration Agreement MIF II.

Argentina Republic, Oscar Tangelson. Italian Republic, Augusto Zodda. Barbados, Tyrone Barker. République d'Haïti, Henri Bazin. Republic of Bolivia, Luis Carlos Jemio. Republic of Guatemala, Maria Antonieta de Bonilla. Canada, Roger Ehrhardt. Republic of El Salvador, Luz Maria de Portillo. Republic of Colombia, María Inés Agudelo. Dominican Republic, Hector Valdez Albizu. Japan, Yuji Miyamoto. Republic of Korea, Han Duck-Soo. United Mexican States, Francisco Gil Diaz. Kingdom of the Netherlands, GPMH Steeghs. Republic of Nicaragua, Mario Alonso I. Republic of Panama, Alfredo Martiz. Republic of Paraguay, Dionisio Borda. Republic of Peru, Pedro Pablo Kuczynski. Portuguese Republic, José Moreno. Kingdom of Spain, David Vergara Figueras. Republic of Suriname, Humphrey Stanley Hildenberg. Kingdom of Sweden, Stefan Emblad. Confédération Suisse, Oscar Knapp. Republic of Trinidad and Tobago, Camille Robinson-Regis. United Kingdom, David Smith. United Status of America, John B. Taylor. Oriental Republic of Uruguay, Danilo Astori. Bolivarian Republic of Venezuela, Eudomar Tovar. Inter-American Development Bank, Inter-American Development Bank, Inter-American development bank, Banque de Développement Interaméricaine. President Enrique V. Iglesias. RAMA

PUBLIC POWER EXECUTIVE PRESIDENCY OF THE REPUBLIC
Bogotá, DC, February 12, 2007
authorized. Submit to the consideration of the honorable Congress for constitutional purposes.
(Sgd.)
The Alvaro Uribe Deputy Foreign Minister in charge of the functions of the office of the Minister of Foreign Affairs,
(Sgd.) Camilo Reyes Rodriguez.
DECREES: Article 1.
. Apruébanse the "Agreement Establishing the Multilateral Investment Fund II" and "Administration Agreement Multilateral Investment Fund II", granted in Okinawa, Japan, the ninth day of April 2005.
Article 2o. In accordance with the provisions of article 1 of Law 7 of 1944, the "Agreement Establishing the Multilateral Investment Fund II" and "Administration Agreement Multilateral Investment Fund II", granted in Okinawa, Japan, the ninth day in April 2005 that article 1 of this law is passed, they will force the country from the date the international bond in respect thereof is perfected.
Article 3o. This law applies from the date of publication.
Given in Bogotá, DC, honorable ... Presented to Congress by the Minister of Foreign Affairs and the Minister of Finance and Public Credit.
The Minister of Foreign Affairs Fernando Araújo Perdomo
.
The Minister of Finance and Public Credit, Oscar Iván Zuluaga
. RAMA

PUBLIC POWER EXECUTIVE PRESIDENCY OF THE REPUBLIC
Bogotá, DC, February 12, 2007
authorized. Submit to the consideration of the honorable Congress for constitutional purposes.
(Sgd.)
The Alvaro Uribe Deputy Foreign Minister in charge of the functions of the office of the Minister of Foreign Affairs,
(Sgd.) Camilo Reyes Rodriguez. DECREES
:
ARTICLE 1o. Apruébanse the "Agreement Establishing the Multilateral Investment Fund II" and "Administration Agreement Multilateral Investment Fund II", granted in Okinawa, Japan, the ninth day of April 2005.
Article 2.
. In accordance with the provisions of article 1 of Law 7 of 1944, the "Agreement Establishing the Multilateral Investment Fund II" and "Administration Agreement Multilateral Investment Fund II", granted in Okinawa, Japan, the ninth day in April 2005 that article 1 of this law is passed, they will force the country from the date the international bond in respect thereof is perfected.

ARTICLE 3. This law applies from the date of publication.
The President of the honorable Senate,
HERNÁN SERRANO FRANCISCO ANDRADE.
The Secretary General of the honorable Senate,
EMILIO RAMÓN OTERO DAJUD.
The President of the honorable House of Representatives, GERMÁN
MALE Cotrino.
The Secretary General of the honorable House of Representatives,
JESUS ​​ALFONSO RODRÍGUEZ CAMARGO.
REPUBLIC OF COLOMBIA - NATIONAL GOVERNMENT
transmittal and enforcement.
Run, after review by the Constitutional Court, pursuant to Article 241-10 of the Constitution.
Given in Bogotá, DC, on November 19, 2008.

The Alvaro Uribe Foreign Minister, Jaime Bermudez
. ***


1. In the case of commitments made in currencies other than the US dollar, translated at the exchange rate as the IMF established based on the average daily exchange rates calculated during the six months ended December 31, 2004.


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