Key Benefits:
1246 OF 2008
(November 19)
Official Journal No. 47.178 of 19 November 2008
CONGRESS OF THE REPUBLIC
By means of which the "Constitutional Convention of the Multilateral Investment Fund II" and the "Management Convention of the Multilateral Investment Fund II" are approved, granted in Okinawa, Japan, on the ninth day of the month of April 2005.
COLOMBIA CONGRESS
Having regard to the text of the "Constitutional Convention of the Multilateral Investment Fund II" and the "Multilateral Investment Fund Administration Convention II", awarded in Okinawa, Japan, on the day ninth of the month of April 2005, which to the letter say:
(To be transcribed: photocopy of the full text of the international instrument mentioned).
INVESTMENT II PHONDOMULTILATERAL CONVENTION II
April 9, 2005
WHEREAS the Multilateral Investment Fund (hereinafter referred to as the "FOMIN I") was established under the Convention of the Multilateral Investment Fund, dated 11 February 1992 (hereinafter referred to as theFOMIIN I") ;
WHEREAS the FOMIN I Convention was renewed until 31 December 2007 in accordance with Section 2 of Article V thereof;
CONSIDERING that, in recognition of the need in the Latin American and Caribbean region to define new ways to increase private investment and to foster private sector development, improve the environment business and support for micro-enterprise and small business to support economic growth and poverty reduction, donors who have acceded to the MIF I Convention and the likely donors listed in Annex A of the Present Convention of the Multilateral Investment Fund II (the "FOMIN II Convention") (each of them, hereafter, a "Likely Donor") wish to ensure the continuity of the activities of MIF I beyond 31 December 2007 and to give rise to an extended FOMIN I (hereinafter referred to as the "FOMIN II or the"Fund") at the Inter-American Development Bank (hereinafter referred to as the "Bank") , which will have assumed the assets and liabilities of the MIF I; and
WHEREAS the Probable Donors intend that the MIF II continue to complement the work of the Bank, the Inter-American Investment Corporation (hereinafter referred to as the "") and other multilateral development banks, in accordance with the terms of this instrument, and the intention that the management of MIF II by the Bank shall continue in accordance with the Multilateral Fund Management Convention Investments II, on the same date as this instrument (hereinafter referred to as theFOMIIN II Administration Convention") ,
THEREFORE, PROBABLE DONORS, by means of this instrument, agree on the following:
ARTICLE I
GENERAL GOAL AND FUNCTIONS
Section 1. General objective.
The overall objective of the MIF II is to provide support for the economic growth and poverty reduction of the developing countries members of the Bank and the developing countries of the Caribbean Development Bank (in the Successive, the "BDC") , by promoting increased private investment and fostering private sector development.
Section 2. Functions.
To meet your goal, the MIF II will have the following functions:
(a) Promote activities to improve the business environment in the developing regional countries of the Bank and the developing countries of the BDC;
(b) Increase the competitiveness of the private sector in the region;
(c) Stimulating microenterprise and small business, as well as other business activities;
(d) Foster regional integration efforts;
(e) Sharing knowledge that contributes to the development of the private sector and, particularly, micro-enterprise and small business;
(f) Promote the use and application of technology in the region;
(g) encouraging the application of innovative initiatives;
(h) complement the work of the Bank, the IIC and other multilateral development banks;
(i) promote the realization of appropriate legal and regulatory reforms; and
(j) promote ecologically sound and sustainable economic development, as well as 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 practicable after the deposit of the instrument indicating that it has ratified, accepted or approved this Convention of the MIF II (hereinafter referred to as a "Acceptance Instrument") , but no later than sixty (60) days after that, each Probable Donor will deposit an instrument in the Bank by means of which it agrees to pay the Fund the amount stipulated next to its name in Annex A (hereinafter referred to as" Contribution") , done which a Likely Donor will become a "Donor" under the present FOMIN II Convention.
(b) A Donor shall agree to pay its contribution in six identical annual instalments (hereinafter a "Unconditional Contribution") , in accordance with the Contribution Instrument. Donors who have deposited an Instrument of Contribution before the date of entry into force of this FOMIN II Convention as stipulated in Section 1 of Article V (hereinafter referred to as theFOMIN II Effective Date") , on that date or within sixty (60) days after the date, the payment of the first instalment may be deferred until the 60th day after that Effective Date of the MIF II. Any Donor who deposits a Contribution Instrument more than sixty (60) days after the FOMIN II Effective Date shall pay at the date of such deposit both the first instalment and any subsequent quota whose date of payment has expired. Each Donor shall pay each subsequent fee in accordance with a schedule agreed by the Donors.
(c) Without prejudice to the provisions of paragraph (b) of this Section in respect of Unconditional Contributions, as an exceptional case, a Donor may provide in its Contribution Instrument that the payment of all the fees shall be subject to to subsequent budget allocations, committing to seek to obtain the necessary allocations to pay the total amount of each installment for the payment dates referred to in paragraph (b) (hereinafter a "Contribution Conditional"). The payment of any fee due after any such payment dates shall be made within thirty (30) days after obtaining the required allocations.
(d) In the event that a Donor who has made a Conditional Contribution does not obtain the necessary budgetary allocations to pay in full any of the instalments for the dates referred to in paragraph (b), any another Donor who has completed the full quota may, after consultation with the committee established under Article IV (hereinafter referred to as theDonor"), may have completed the , to indicate in writing to the Bank that it limits the commitments under that quota. Such limitation may not exceed the percentage representing the unpaid portion of the fee, payable by the Donor who made the Conditional Contribution, in respect of the total amount of the fee payable by that Donor, and shall not remain in force but for the period in which such an unpaid part is payable.
(e) Any member country of the Bank, whose name does not appear in Annex A and which becomes a Donor in accordance with Section 1 of Article VI, or any Donor which, subject to approval by the Donor Committee, wishes to increase its contributing to the amount set out in Annex A, making a contribution to the Fund by depositing an Instrument for Contribution under which it agrees to pay a certain sum and on the dates and conditions approved by the Donors, provided that the first fee paid by a Donor that does not appear in Annex A is for an amount sufficient to put the Donante a day in the payment of quotas, and that from there on the payment of quotas of that Donor is made in accordance with the schedule referred to in paragraph (b) of this Section.
(f) The Fund shall not exceed the sum of the total amounts indicated in Annex A plus the amounts indicated in the Contribution Instruments deposited as provided in the paragraph (e).
Section 2. Payments.
(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 that do not accrue interest (or other securities). similar securities), denominated in that currency and payable against filing, in accordance with the criteria and procedures established by the Donors ' 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 charged to the sums due by that Donor.
(b) Such payments shall be made in one or more accounts opened in particular by the Bank to that effect; the notes referred to shall be deposited in that account or in the Bank, as determined by the Bank.
(c) To determine the amounts owed by each Donor that makes its payments in a convertible currency other than the U.S. dollar, the amount in U.S. dollars indicated next to its name in Annex A will be converted to the payment currency on the basis of the representative exchange rate of the International Monetary Fund (IMF) for that currency, based on the calculation of the average daily exchange rates during the six months ended December 31, 2004.
ARTICLE III
BACKGROUND OPERATIONS
Section 1. General disposition.
The Fund has a differentiated role within its partnership with the Bank and the IIC and may supplement or support the activities of such entities as directed by the Donors Committee. In order to meet its objective of supporting economic growth and poverty reduction through the promotion of increased private investment and the promotion of private sector development, the Fund, in cases where appropriate, will be (a) it shall be based on the Bank's strategies and policies for the private sector and its programmes for the respective country, as well as on other policies of the Bank and the IIC.
Section 2. Operations.
(a) To meet its objective, the Fund shall provide financing in the form of grants, loans, guarantees or any combination of such modalities, and as provided for in point (b) of this Section, also in the form of capital and quasi-equity investments or any combination of these modalities; on condition, however, that the Fund retains its essential character as a grant giver, at levels comparable to those of the historical practice of the MIF I.
The Fund may also provide advisory services. Financing and advisory services may be provided to governments, government agencies, sub-national entities, non-governmental organizations, private or other entities, in support of operations that contribute to the achievement of the Fund's objective. Among other activities, the Fund's operations may be aimed at:
(i) Support improvements in the business environment, focusing on the promotion of efficient, transparent and responsible market practices, support for the implementation of appropriate legal and regulatory reforms and the promotion of application of international standards and standards;
(ii) Support activities that increase the capacity of the private sector to generate income, create job opportunities, develop skills in the workforce, use technology and achieve sustainable growth, with a focus focused on micro-enterprise and small business;
(iii) Define innovative models or operational and business networks that contribute to the development process; bring public and private sectors together in collaborative ventures; promote socially responsible methods of making business; and
(iv) Sharing acquired knowledge and lessons learned from your initiatives.
(b) In addition, in order to achieve the objective of the FUND, the Investment Fund for Small Enterprises (hereinafter referred to as theFIPE") shall be maintained in its structure. , which, at all times and for all intents and purposes, will be maintained, used, committed, invested and accounted for separately from the other resources of the FUND. FIFE resources may be used to grant loans, to grant guarantees and to make capital and quasi-equity investments or any combination of those modalities, either directly or through intermediaries, to private sector entities which they are establishing or expanding the provision of services for micro and small enterprises, or that they are funding or investing resources in them. The Donors ' Committee shall establish the basic terms and conditions for such loans, guarantees and investments, taking due account of the corresponding repayment prospects. All sums received by the Bank from the operations of the FIPE, either as dividends, interest or otherwise, shall be deposited in the Fund's account.
Section 3. Principles applicable to the operations of the Fund.
(a) The financing under the Fund shall be granted in accordance with the terms and conditions of this FOMIN II Convention, in accordance with the rules laid down in Articles III, IV and VI of the Bank's Constitutive Convention. Inter-American Development (hereinafter referred to as the "Constitutive Convention") and, in appropriate cases, with the Bank's policies applicable to its own operations and the rules and policies of the IIC. All regional developing countries members of the Bank and the BDC are potentially eligible to receive funding from the Fund to the extent that they are eligible to receive funding from the BANCO.
(b) The Fund will continue its practice of sharing the cost of operations with implementing agencies, promoting adequate counterpart financing, and observing the principle of not displacing private sector activities.
(c) In deciding on the grant of donations, the Donors ' Committee will particularly take into account the commitment of the member countries concerned in terms of poverty reduction, the social cost of economic reforms, the the financial needs of the potential beneficiaries and the relative poverty levels of those countries.
(d) The financing in the territories of countries that are members of the BDC but not of the Bank shall be granted in consultation with the BDC, with the agreement of this or through it, in conditions consistent with the principles set forth in this section and as decided by the Donors Committee.
(e) The Fund's resources shall not be used to finance or defray any project costs incurred prior to the date on which such resources may be available.
(f) The 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 country member of the Bank if that member opposes such financing.
(h) Fund operations shall include specific targets and measurable results. The effect of the operations of the Development Fund shall be measured in accordance with a system which takes into account the objective and functions of the Fund as set out in Article I and subject to best practice, as regards:
(i) Results indicators, speed of disbursement, degree of innovation, ability to disseminate lessons learned and performance in project execution;
(ii) A framework for evaluating projects individually and by groups of operations, as well as for ex-post evaluations; and
(iii) public dissemination of results.
(i) The operations of the Fund shall be designed and implemented in such a way as to maximise their efficiency and effect on development, with particular emphasis on the ex-ante risk assessment and the strengthening of implementing bodies. The Donors Committee may approve the partnership with local authorities for the preparation and implementation of projects.
ARTICLE IV
WHERE COMMITTEE
Section 1. Composition.
Each Donor will be able to participate in the meetings of the Donors Committee and appoint a representative to attend the meetings.
Section 2. Responsibilities.
The Donors ' Committee will be responsible for the final approval of all Fund operations proposals, seeking to maximize the Fund's comparative advantage through operations with significant development, efficiency, and innovation and impact in accordance with the functions of the Fund as specified in Section 2 of Article I. The Donors ' Committee shall consider operations to be in accordance with those tasks, and shall refrain from considering or eliminating gradually, those that do not do so.
Section 3. Meetings.
The Donors Committee will meet at the Bank's headquarters, as often as the Fund's operations require. A meeting may be convened by the Secretary of the Bank (acting as Committee Secretary) or any of the Donors. As necessary, the Donors ' Committee shall determine its organisation and its rules of operation and procedure. The quorum at any meeting of the Donors Committee shall be the majority of all representatives representing no less than four fifths of the total votes of the Donors. Probable Donors will be able to attend the meetings of the Donors Committee as observers.
Section 4. Vote.
(a) The Donors Committee will seek to reach its decisions by consensus. In the event that such a consensus cannot be achieved after reasonable efforts, and unless otherwise indicated in this MIF II Convention, the Donors ' Committee shall take its decisions by a majority of three quarters of the total of the the votes.
(b) All the votes of each Donor shall be equal to the sum of their proportional votes and their basic votes. Each Donor shall have one vote in proportion to each hundred thousand US dollars which has contributed to cash, promissory notes or similar securities (or its equivalent in other freely convertible currencies) in accordance with the provisions of the Section 2 of Article II of this Convention of MIF II and Section 2 of Article II of the MIF Convention I. Each Donor shall also have basic votes, equivalent to the number of votes resulting from the distribution in equal parts, between all Donors, of a number of votes equal to twenty-five percent (25%) of the total sum of the votes proportional of all the Donors.
Section 5. Reporting and evaluating.
Once approved by the Donors ' Committee, the annual report presented under Section 2 (a) of Article V of the FOMIN II Administration Convention will be forwarded to the Bank's Board of Directors. At any time after the first anniversary of the FOMIN II Effective Date, and at least every five years after that anniversary, the Donors ' Committee will request an independent evaluation by the Office of Supervision and Evaluation of the Bank, under the resources of the Fund, in order for it to analyse the results of the Fund in the light of the objective and functions of this Convention of the MIF II; this evaluation will continue to include an evaluation of the the results of project groups, based on reference levels and indicators, as regards aspects such as relevance, effectiveness, efficiency, innovation, sustainability and additionality, and in terms of progress with regard to the implementation of the recommendations adopted by the Donors Committee. The Donors will meet to discuss each of these independent evaluations, at the latest at the next annual meeting of the Bank's Board of Governors.
ARTICLE V
VALIDITY OF THE FOMIN II CONVENTION
Section 1. Entry into force.
This FOMIIN II Convention shall enter into force on any date prior to 31 December 2007 or in accordance with that day, in which Probable Donors representing at least sixty percent (60%) of the total amount set for The Fund in Annex A has deposited its Contribution Instruments, at which time the MIF I will terminate and the MIF II will assume all the assets and liabilities of the MIF I.
Section 2. Vigency of this FOMIN II Convention.
This FOMIIN II Convention shall remain in force until 31 December 2015 and may only be renewed for an additional period of up to 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 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-quarters of the total votes of the Donors, may extend the validity of the present FOMIN II Convention for the agreed extension period.
Section 3. Termination by the Bank or the Donors Committee.
The present FOMIN II Convention shall be terminated in the event that the Bank suspends its own operations or terminates its operations in accordance with the provisions of Article X of its Constitutive Convention. Furthermore, this Convention of the MIF II shall be terminated in the event that the Bank is terminated by the FOMIIN II Management Convention in accordance with Section 3 of Article VI thereof. The Donors ' Committee may at any time terminate the MIF II Convention, with the vote of at least two-thirds of the Donors representing at least three-quarters of the total votes of the donors. Donors.
Section 4. Distribution of the Fund's assets.
When the termination of this FOMIN II Convention occurs, the Donors ' Committee shall instruct the Bank to carry out an asset distribution among the Donors once all the Fund's liabilities have been cancelled or (i) Any distribution that is made of the remaining assets shall be made in proportion to the proportional votes of each Donor under Section 4 of Article IV. Balances remaining in any of the corresponding promissory notes or similar securities shall be cancelled to the extent that no payment is required on the basis of such balances to meet the Fund's financial obligations.
ARTICLE VI
GENERAL PROVISIONS
Section 1. Accession to this Convention of the MIF II.
The present FOMIN II Convention may be signed by any member of the Bank which is not listed in Annex A. Any signatory of that kind may accede to this Convention of the MIF II and become a Donor by depositing a Instrument of Acceptance and an Instrument of Contribution for the amount and dates and conditions approved by the Donors ' Committee, which shall take the decision by a majority of votes of at least two thirds of the Donors representing the At least three-quarters of the total votes of the Donors.
Section 2. Modifications.
(a) This FOMIIN II Convention may be amended by the Donors Committee, which shall take its decision by a majority of votes of at least two thirds of the Donors representing at least three-quarters of the total of the votes of the Donors. Approval of all Donors will be required to make a modification to this section, to the provisions of Section 3 of this Article which limit the liability of the Donors, or for a modification by which increase the financial or other obligations of the Donors, or an amendment to Section 3 of Article V.
(b) Without prejudice to the provisions of paragraph (a) of this Section, any modification that increases the existing obligations of the Donors under this Convention of the MIF II or which carries new obligations for the Donors shall enter into force for each donor who has notified the Bank in writing of its acceptance.
Section 3. Limitations of liability.
In connection with the Fund's operations, the Bank's financial responsibility shall be limited to the Fund's resources and reserves (if any), and the responsibility of the Donors as such shall be limited to the unpaid portion of their respective funds. contributions that are due and payable.
Section 4. Retirement.
(a) Once the payment of the entire conditional or conditional contribution has been made, any Donor may withdraw from the present FOMIN II Convention by giving the Bank's headquarters written notice of its intention to withdraw. Such separation shall become effective on a definitive basis on the date indicated in such notification, but in no case before six (6) months after the date of delivery of such notification to the Bank. However, at any time before the separation is definitively effective, the Donor may notify the Bank in writing of the revocation of the notification of its intention to withdraw.
(b) A Donor who has withdrawn from this FOMIN II Convention shall remain responsible for all of its obligations under this Convention of the MIF II in force before the effective date of its withdrawal notification.
(c) The agreements entered into between the Bank and a Donor, in accordance with Section 7 of Article VII of the FOMIN II Administration Convention, for the settlement of the respective claims and obligations, shall be subject to the approval of the Donors Committee.
Section 5. FOMIN I.
Notwithstanding any provision to the contrary in this Convention of the MIF II, all the countries listed in Annex A which acceded to the FOMIN I Convention shall have all the rights granted to the "Donors" by virtue of the Present FOMIIN II Convention immediately upon completion of the FOMIN II Effective Date.
IN FAITH OF THE CUAL each of the Probable Donors, acting through its duly authorized representative, has signed the present Convention of the MIF II.
Granted in Okinawa, Japan, on the ninth day of April 2005, in a single original document, whose Spanish, French, English and Portuguese versions are equally authentic, which will be deposited in the Bank's archives, which will send a duly certified copy of the same to each of the Probable Donors listed in Annex A to this Convention of the MIF II.
ANNEX A
CONTRIBUTION OF PROBABLE DONORS TO THE MULTILATERAL INVESTMENT FUND II
| Country | Contribution in the U.S. dollar equivalent of the United States[1] |
| Argentina | $8,331,000 |
| Bahamas | 500,000 |
| Barbados | 400,000 |
| Belize | 362,000 |
| Bolivia | 362,000 |
| Brazil | 8,331,000 |
| Canada | 30,000,000 |
| Chile | 3,000,000 |
| Colombia | 3,000,000 |
| Korea | 50,000,000 |
| Costa Rica | 362,000 |
| Ecuador | 362,000 |
| El Salvador | 362,000 |
| Spain | 70,000,000 |
| United States of America | 150,000,000 |
| France | 15,000,000 |
| Guatemala | 362,000 |
| Guyana | 350,000 |
| Haiti | 300,000 |
| Honduras | 362,000 |
| Italy | 10,000,000 |
| Jamaica | 400,000 |
| Japan | 70,000,000 |
| Mexico | 8,331,000 |
| Nicaragua | 362,000 |
| Netherlands | 18,882,175 |
| Panama | 362,000 |
| Paraguay | 450,000 |
| Peru | 3,300,000 |
| Portugal | 3,000,000 |
| United Kingdom | 22,095,378 |
| Dominican Republic | 362,000 |
| Sweden | 5,000,000 |
| Switzerland | 7,500,000 |
| Suriname | 100,000 |
| Trinidad and Tobago | 600,000 |
| Uruguay | 1,000,000 |
| Venezuela | 8,331,000 |
| Total $ | 501.821,553 |
Argentina, Oscar Tangelson. Commonwealth of the Bahamas, James H. Smith. Barbados, Tyrone Barker. Belize, Salvador Figueroa. Republic of Bolivia, Luis Carlos Jemio. Federative Republic do Brasil, Paulo Bernardo Silva. Canada, Roger Ehrhardt. Republic of Chile, Luis Eduardo Escobar. Republic of Colombia, Maria Inés Agudelo.Republic 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, G. P. M. H.
Steeghs. Cooperative Republic of Guyana, Saisnarine Kowlessar. Republic of Korea, Duck-Soo Han. 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. Confederation Suisse, Oscar Knapp. Republic of Trinidad and Tobago, Camilla Robinson-Regis. United Kingdom, United Status of America, John B. Taylor. Eastern Republic of Uruguay, Danilo Astori. Bolivarian Republic of Venezuela, Eudomar Tovar.
INVESTMENT MULTILATERAL FUND II ADMINISTRATION CONVENTION
April 9, 2005
WHEREAS the Multilateral Investment Fund (hereinafter referred to as the "FOMIN I") was constituted under the Convention of the Multilateral Investment Fund, dated 11 February 1992 (hereinafter referred to as theFOMIIN I") , and which is administered by the Inter-American Development Bank (hereinafter referred to as the "Bank") in accordance with the Management Convention of the Multilateral Investment Fund of the same date (hereinafter referred to as theFOMIIN I Administration Convention I") ;
WHEREAS the FOMIIN I Convention was renewed until 31 December 2007 in accordance with Section 2 of Article V thereof;
WHEREAS the FOMIN I Administration Convention was likewise renewed on the same occasion and that it will remain in force for the duration of the FOMIN I Convention, as provided for in Section 2 of Article VI of the same;
WHEREAS, as of the date of this document, they have signed the Convention of the Multilateral Investment Fund II (hereinafter referred to as theFOMIIN II Convention") the likely donors whose names are listed in Annex A to it (each of them a "Likely Donor" and when adhering to the MIF II Convention as provided for in Section 1 (a) of Article II, considered a "Donor") , in order to ensure the continuity of the activities of MIF I beyond 31 December 2007 and to give rise to an extended FOMIN I (hereinafter referred to as the "FOMIN II" or the "Fund") at the Bank;
WHEREAS the Probable Donors are equally willing to approve this Multilateral Investment Fund Management Convention II (hereinafter referred to as theFOMIN II Administration Convention") , which, upon entry into force of the MIF II Convention, will replace the FOMIN I Administration Convention;
WHEREAS the Fund may continue to complement the work of the Bank, the Inter-American Investment Corporation (hereinafter referred to as theCII") and other multilateral development banks in accordance with the terms of the MIF II Convention; and
WHEREAS the Bank, in order to meet its objectives and the performance of its tasks, has undertaken to continue to administer the Fund in accordance with the provisions of the MIF II Convention.
THEREFORE, the Bank and the Probable Donors, by means of this instrument, agree on the following:
ARTICLE I
ADMINISTRATION OF THE FUND
The Bank will continue to act as the Fund's administrator. The Bank shall manage the Fund and carry out its operations in accordance with the MIF II Convention and shall provide the services of depositary and other related services. The Bank shall maintain the Office of the Multilateral Investment Fund as the office within the organization of the Bank in charge of administering and carrying out the operations and programs of the Fund as provided for in this Convention. Administration of MIF II.
ARTICLE II
BACKGROUND OPERATIONS
Section 1. Operations.
(a) In the management of the Fund and the execution of its operations, the Bank shall have the following responsibilities:
(i) Identify, develop, prepare and propose, or arrange for the identification, development and preparation of operations to be funded from the Fund's resources;
(ii) Elaborate, or make available, memos or information on the activities proposed for the Donors Committee (as defined in Section 1 (d) of Article II of the MIF II Convention), for transmission or distribution to the Directory Executive of the Bank, at least quarterly for its 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 FOMIN II Convention, for consideration by the Donors Committee;
(v) Run and monitor, or have the execution and monitoring, of all operations approved by the Donors Committee;
(vi) Implement a system of measurement of the results of operations, based on the criteria set out in Article III, Section 3 (h) of the MIF II Convention;
(vii) Manage the Fund's accounts, including the investment of its resources as stipulated in Section 1 (c) of Article IV of this FOMIN II Administration Convention; and
(viii) Spread the lessons learned from the Fund's operations and activities for the purpose of promoting knowledge sharing, improving project design, strengthening the capacity of private sector partners, and To make the private sector involved in the development process.
(b) Prior approval of the Donors ' Committee, the Bank may request the IIC to administer or execute individual operations or programmes where such operations and programmes correspond to the capacity and scope of the IIC.
(c) The President of the Bank will be the President the Donors Committee The Secretary of the Bank will act as secretary of the Donors Committee and will provide secretarial, facilities and other support services to facilitate the work of the Donors Committee. In the performance of such duties, the Secretary shall convene the meetings of the Donors 'Committee and, with a minimum of fourteen (14) days' notice to a meeting, distribute among the representatives of the Donors appointed in accordance with the provisions of the Section 1 of Article IV of the MIF II Convention, the main documents relating to it and the respective agenda.
Section 2. Limitations on commitments.
The Bank shall limit commitments to the extent indicated by a Donor as provided for in Section 1 (d) of Article II of the MIF II Convention.
ARTICLE III
DEPOSITARY FUNCTIONS
Section 1. Depositary of conventions and documents.
The Bank shall be a depositary of this FOMIIN II Management Convention, of the MIF II Convention, of the Acceptance and Contribution Instruments (as defined in Section 1 (a) of Article II of the MIF II Convention) and all other documents related to the Fund.
Section 2. Opening accounts.
The Bank shall open one or more accounts of the Bank as the Fund's administrator in order to deposit the payments made by the Donors in accordance with Section 2 of Article II of the MIF II Convention. The Bank shall administer these accounts in accordance with the provisions of this Convention on the Management of MIF II.
ARTICLE IV
BANK CAPACITY AND OTHER ISSUES
Section 1. Basic capacity.
(a) The Bank declares that, pursuant to Section 1 (v) of Article VII of the Inter-American Development Bank's Constitutive Convention (hereinafter referred to as the "constitutive convention") , it has the capacity to implement the provisions of this FOMIN II Administration Convention and that the activities undertaken in compliance with this Convention will contribute to the achievement of the Bank's objectives.
(b) Unless otherwise indicated in the text of this FOMIN II Administration Convention, the Bank shall have the capacity to engage in any activity and to conclude all contracts necessary to perform its functions in this Convention.
(c) The Bank shall invest the resources of the Fund, which are not necessary for its operations, in the same type of securities as it invests its own resources in the exercise of its investment capacity.
Section 2. Care Standard.
In the performance of its duties, as provided for in the present FOMIN II Administration Convention, the Bank shall act with the same care as it exercises in the administration and management of its own affairs.
Section 3. Bank expenses.
(a) The Bank shall be fully reimbursed, under the Fund, in respect of all direct and indirect costs incurred in the exercise of the activities related to the Fund, and the activities of the IIC, including the remuneration of the Bank's officials for the time effectively devoted to the administration of the Fund, travel expenses, travel expenses, communication expenses and any other similar expenses directly identified, calculated and accounted for separately as expenses for the administration of the Fund and for the execution of its operations.
(b) The procedure for determining and calculating the costs to be reimbursed to the Bank and the criteria governing the reimbursement of the expenditure described in subparagraph (a), established by mutual agreement between the Bank and the Committee of Donors as provided for in the MIF I Administration Convention will continue to be in force and may be reviewed from time to time on a proposal from the Bank or the Donors Committee, and the implementation of any changes resulting from such review will require the agreement of the Bank and the Donors Committee.
Section 4. Cooperation with national and international bodies.
In the administration of the Fund, the Bank will be able to consult and collaborate with national and international organizations, both public and private, that operate in the areas of social and economic development, when this contributes to the achievement of the purpose of the Fund or to maximize efficiency in the use of its resources.
Section 5. Project evaluation.
In addition to the assessments requested by the Donors ' Committee, the Bank shall evaluate the operations it has undertaken under this FOMIN II Management Convention and send a report of such evaluations to the Donors Committee, in accordance with Section 5 of Article IV of the MIF II Convention.
ARTICLE V
ACCOUNTING AND REPORTING
Section 1. Separation of accounts.
The Bank shall bear separate accounts and accounting records of the resources and operations of the Fund and of the Small Business Investment Fund referred to in Section 2 (b) of Article III of the MIF II Convention (hereinafter referred to as "the Fund"). 'FIPE'), in such a way as to enable the identification of assets, liabilities, income, costs and expenses relating to the Fund and to the IPPE, separately and independently of the other Bank's operations. The accounting system will also make it possible to identify and record the origin of the various resources received under this MIF II Administration Convention, and the funds generated by these resources, as well as their implementation. The Fund's accounting will be carried out in dollars from the United States of America, so conversion of currencies to the current exchange rate applied by the Bank at the time of each transaction.
Section 2. Reporting.
(a) As long as the present FOMIN II Administration Convention is in force, the Bank's Administration shall, by means of an annual report to the Donors Committee, present within ninety (90) days of the closing of its fiscal year, the following information:
(i) A statement of the assets and liabilities of the Fund and of the FIPE, a statement of revenue and cumulative expenditure relating to the Fund and to the FIPE, and a statement of the origin and destination of the Fund and the FIPE resources, accompanied by the explanatory notes where applicable;
(ii) Information on the progress and results of the projects, programmes and other operations of the Fund and the IPPE, and on the status of applications submitted to the Fund and to the FIPE; and
(iii) Information on the results of the Fund's operations on the basis of the criteria set out in Section 3 (h) of Article III of the MIF II Convention.
(b) The reports referred to in paragraph (a) of this section shall be prepared in accordance with the accounting principles used by the Bank with its own operations and shall be accompanied by an opinion issued by the same firm. independent of public accountants appointed by the Board of Governors of the Bank for the audit of its own financial statements. The fees of such independent accountants shall be paid from the Fund's resources.
(c) The Bank will prepare an annual report and quarterly reports on income and disbursements, and balances from the Fund and the FIPE.
(d) The Donors Committee may also request the Bank, or the public accountants firm referred to in paragraph (b), to provide any other reasonable information regarding the operations of the Fund and the audit report submitted.
(e) The accounting of the FIPE shall be separately from that of the other resources of the Fund.
ARTICLE VI
DURATION OF THE FOMIN II ADMINISTRATION CONVENTION
Section 1. Entry into effect.
The present FOMIN II Administration Convention will enter into force on the same date as the FOMIIN II Convention enters into force.
Section 2. Duration.
(a) The present FOMIN II Administration Convention shall remain in force for the entire duration of the MIF II Convention. Upon termination of the FOMO II Convention, or the present FOMIN II Administration Convention, in accordance with Section 3 of this Article, the present FOMIIN II Administration Convention shall remain in force until the Bank complete its tasks relating to the settlement of the Fund's operations or to the adjustment of accounts, as provided for in Section 4 (a) of Article VI of the MIF II Convention.
(b) Before the end of the initial period referred to in Section 2 of Article V of the MIF II Convention, the Bank shall consult with the Donors ' Committee whether or not it is advisable to extend the operations of the Fund or the FIPE during the period of Renewal as specified in the FOMO II Convention.
Section 3. Termination of the Convention by the Bank.
The Bank shall terminate the present FOMIN II Administration Convention in the event that it suspends its own operations, in accordance with Article X of the Constitutive Convention, or shall cease operations in accordance with that Agreement. Article of the Constitutive Convention. The Bank shall terminate the present FOMIN II Administration Convention in the event that an amendment to the MIF II Convention requires that the Bank, in the performance of its obligations under that Convention, act in contravention of its own Constitutive Convention.
Section 4. Settlement of the Fund's operations.
At the termination of the FOMIN II or FIPE Convention, the Bank shall cease any activity that it develops in compliance with this Convention of Administration of MIF II or FIPE, except those that are necessary for the purposes of the implementation, conservation and orderly preservation of assets and for the adjustment of outstanding obligations. Once all liabilities relating to the Fund or to the FIPE have been settled or settled, the Bank shall distribute or allocate the remaining assets in accordance with the instructions of the Donors ' Committee, as provided for in Section 4 of Article V of the FOMIN II Convention.
ARTICLE VII
GENERAL PROVISIONS
Section 1. Bank contracts and documents on behalf of the Fund.
In the contracts you subscribe as an administrator of the Fund's resources, and in the execution of its operations, as well as in all documents related to the Fund, the Bank shall clearly indicate that it is acting as an administrator. of the Fund.
Section 2. Responsibilities of the Bank and Donors.
The Bank may not in any case benefit from the profits, profits or profits arising from the financing, investments and any other type of operation carried out under the Fund's resources. No financing, investment or other operation carried out under the Fund's resources shall establish an obligation or financial responsibility of the Bank to the Donors; in the same way, the Donors shall not be entitled to to require any compensation from the Bank for any loss or deficiency that may arise as a result of an operation, except in cases where the Bank has acted outside the written instructions of the Donor Committee or has not acted with the same level of care that it uses in the management of its own resources.
Section 3. Accession to this Convention on the Management of MIF II.
Any member of the Bank that is not listed in Annex A to the MIF II Convention may accede to the present FOMIN II Administration Convention by signing it, after joining the FOMIN Convention
II, in accordance with the provisions of Section 1 of Article VI of the MIF II Convention. The Bank shall sign the present FOMIN II Management Convention by signing a duly authorised representative.
Section 4. Amendment.
The present FOMIN II Administration Convention may only be amended if the Bank and the Donors ' Committee agree, which shall adopt this 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 or an amendment affecting financial or other obligations of the Donors.
Section 5. Dispute resolution.
Any dispute arising under this Convention of Management of the MIF II between the Bank and the Donors ' Committee, and which is not settled by consultation, shall be settled by arbitration in accordance with the provisions of Annex A to the Present Convention. Any arbitral award shall be final and shall be implemented by a Donor, the Donors or the Bank, in accordance with their constitutional procedure or with the Constitutive Convention, respectively.
Section 6. Limitations to liability.
With respect to the Fund's operations, the Bank's financial responsibility shall be limited to the resources and reserves (if any) of the Fund; the responsibility of the Donors as such shall be limited to the unpaid portion of their respective funds. contributions which it is due and payable in accordance with the MIF II Convention.
Section 7. Withdrawal of a donor as part of the MIF II Convention.
On the date when the notification of your intention to withdraw is effective as provided for in Section 4 (a) of Article VI of the MIF II Convention, the Donor who has submitted such notification shall be deemed to be withdrawn for the purposes of This Convention on the Administration of MIF II. Without prejudice to Section 4 (b) of Article VI of the MIF II Convention, the Bank, after approval of the Donors Committee, shall conclude an agreement with the Donor in question to settle their respective claims and obligations.
IN FE OF THE CUAL, the Bank and each of the Probable Donors, each acting through their authorized representative, have signed the present FOMIN II Administration Convention.
Granted in the city of Okinawa, Japan, on the ninth day of April 2005, in a single original document, whose English, French, Portuguese and Spanish versions are equally authentic, which will be deposited in the Bank's archives, which send a duly certified copy thereof to each of the Probable Donors listed in Annex A to the MIF II Convention.
ANNEX A
ARBITRATION PROCEDURE
ARTICLE I
COURT COMPOSITION
The Court of Arbitration, in order to resolve the disputes referred to in Section 5 of Article VII of the Management Convention of the Multilateral Investment Fund II (hereinafter referred to as theFOMIN Management Convention "). II") consist of three (3) members, who shall be appointed in the following manner: one by the Bank, one by the Donors Committee and a third party, hereinafter referred to as the "Dirimente", by direct agreement between the parties or through their respective arbitrators. If the parties or the arbitrators do not agree with respect to the person of the Diriment, or if one of the parties does not appoint an arbitrator, the Diriment shall be appointed at the request of either party by the Secretary General of the Organization of American States. If one of the parties does not appoint an arbitrator, the arbitrator shall be appointed by the Dirimente. If any of the appointed arbitrators or the Diriment do not wish or cannot act or continue to act, they shall be replaced in the same way as for the original designation. The successor will have the same functions and privileges as the predecessor.
ARTICLE II
INITIATION OF THE PROCEDURE
To submit the dispute to the arbitration procedure, the claimant party shall direct the other a written communication stating the nature of the claim, the satisfaction or compensation it pursues and the name of the arbitrator it designates. The party which has received such communication shall, within the period of forty-five (45) days, communicate to the other party the name of the person appointed as arbitrator. If within thirty (30) days from the delivery of such communication to the claimant, the parties have not agreed as to the person of the Diriment, any of them may refer to the Secretary General of the Organization of American States for the designation to be made.
ARTICLE III
CONSTITUTION OF THE COURT
The Court of Arbitration shall be constituted in Washington, District of Columbia, United States of America, on the date the Dirimente designates and, once constituted, shall meet on the dates set by the Court itself.
ARTICLE IV
PROCEDURE
(a) The Court will have jurisdiction only to know the points of the dispute. It shall adopt its own procedure (which may be the procedure of a reputable arbitration association) and may, on its own initiative, designate the experts it deems necessary. In any case, it should give the parties the opportunity to present oral exhibitions at the hearing.
(b) The Tribunal will fail ex aequo et bono, based on the terms of the FOMIN II Administration Convention, and will rule its ruling even in the event that either party acts in absentia.
(c) The award shall be made in writing and shall be adopted with the concurrent vote of at least two of the members of the Court. It shall be issued within the approximate period of 60 days from the date of the appointment of the Dirimente unless the Court finds that, due to special circumstances and unforeseen circumstances, that period should be extended. The award shall be notified to the parties by means of communication by at least two members of the Court.
ARTICLE V
EXPENSES
The fees of each arbitrator shall be borne by the party that has appointed him and the Dirimente's fees shall be borne in equal parts by the two parties. They shall, before the Court is established, agree on the fees of the other persons who, by mutual agreement, agree to intervene in the arbitration proceedings. If the agreement does not occur in a timely manner, the Court itself shall fix the reasonable compensation for such persons taking into account the circumstances. Each party shall bear its own costs in the arbitration proceedings, but the costs of the Court shall be borne in equal parts by the parties. Any doubt as to the distribution of the costs or the way in which they are to be paid shall be settled by the Court without further appeal. Any outstanding fees or expenses payable by the Donors ' Committee under this Article shall be paid with the resources of the Fund administered under the MIF II Administration Convention.
Argentina, Oscar Tangelson. Italian Republic, Augusto Zodda. Barbados, Tyrone Barker. Republique D' Haiti, Henri Bazin. Republic of Bolivia, Luis Carlos Jemio. República de Guatemala, Maria Antonieta de Bonilla. Canada, Roger Ehrhardt. Republic of El Salvador, Luz Maria de Portillo. República de Colombia, María Inés Agudelo. Dominican Republic, Hector Valdez Albizu. Japan, Yuji Miyamoto. Republic of Korea, Duck-Soo Han. Mexican United States, Francisco Gil Diaz. Kingdom of the Netherlands, G. P. M. H. 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. Confederation Suisse, Oscar Knapp. Republic of Trinidad and Tobago, Camille Robinson-Regis. United Kingdom, David Smith. United Status of America, John B. Taylor. Eastern Republic of Uruguay, Danilo Astori. Bolivarian Republic of Venezuela, Eudomar Tovar. Inter-American Development Bank, Inter-American Development Bank, Inter-American Development Bank, Banque Interamericaine de Développement. President, Enrique V. Iglesias.
EXECUTIVE BRANCH OF PUBLIC POWER
PRESIDENCY OF THE REPUBLIC
Bogotá, D. C., February 12, 2007
Authorized. Submit to the consideration of the honorable Congress of the Republic for the constitutional effects.
(Fdo.) ALVARO URIBE VELEZ
The Deputy Minister of Foreign Affairs in charge of the office of the Foreign Minister,
(Fdo.) Camilo Reyes Rodriguez.
DECRETA:
Article 1o. Approve the "Multilateral Investment Fund II" and the "Multilateral Investment Fund Management Convention II", awarded in Okinawa, Japan, on the ninth day of the year. month of April 2005.
Article 2o. In accordance with the provisions of Article 1 of the 7th Act of 1944, the "Constitutive Convention of the Multilateral Investment Fund II" and the " Multilateral Fund Management Convention Investments II ", granted in Okinawa, Japan, on the ninth day of April 2005, which are approved by Article 1 of this Law, shall force the country from the date on which the international link with respect to them is perfected.
Article 3o. This law governs from the date of its publication.
Dada en Bogotá, D. C., a ...
Presented to the honorable Congress of the Republic by the Minister of Foreign Affairs and the Minister of Finance and Public Credit.
The Foreign Minister,
Fernando Araujo Perdomo.
The Minister of Finance and Public Credit,
Oscar Ivan Zuluaga.
EXECUTIVE BRANCH OF PUBLIC POWER
PRESIDENCY OF THE REPUBLIC
Bogotá, D. C., February 12, 2007
Authorized. Submit to the consideration of the honorable Congress of the Republic for the constitutional effects.
(Fdo.) ALVARO URIBE VELEZ
The Deputy Minister of Foreign Affairs in charge of the office of the Foreign Minister,
(Fdo.) Camilo Reyes Rodriguez.
DECRETA:
ARTICLE 1o. Approve the "Constitutive Convention of the Multilateral Investment Fund II" and the " Multilateral Investment Fund Management Agreement II ", awarded in Okinawa, Japan, on the ninth day of April 2005.
ARTICLE 2o. In accordance with the provisions of Article 1 or the 7th Act of 1944, the "Multilateral Investment Fund II" and the " Convention of Administration of the Multilateral Investment Fund II ", granted in Okinawa, Japan, on the ninth day of April 2005, which is approved by Article 1 of this Law, will force the country from the date on which the link is improved international regarding the same.
ARTICLE 3o. This law governs from the date of its publication.
The President of the honorable Senate of the Republic,
HERNAN FRANCISCO ANDRADE SERRANO.
The Secretary General of the honorable Senate of the Republic,
EMILIO RAMON OTERO DAJUD.
The President of the honorable House of Representatives,
GERMAN MALE COTRINO.
The Secretary General of the honorable House of Representatives,
JESUS ALFONSO RODRIGUEZ CAMARGO.
COLOMBIA-NATIONAL GOVERNMENT
Communicate and comply.
Execute, upon revision of the Constitutional Court, pursuant to article 241-10 of the Political Constitution.
Dada en Bogotá, D. C., 19 November 2008.
ALVARO URIBE VELEZ
The Foreign Minister,
JAIME BERMUDEZ MERIZALDE.
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1. In the case of commitments made in currencies other than the US dollar, converted on the basis of the representative exchange rate of the IMF established on the basis of the average daily exchange rates calculated during the six months concluded on 31 December 2004.
