JOHN CARLOS I,

KING OF SPAIN

To all who present it and understand,

Sabed: That the General Courts have approved and I come to sanction the following Law:

Spain joined the Asian Development Bank on February 14, 1986, by Law 44/1985, of December 19, authorizing the subscription of 6,020 Bank shares, as well as a contribution of 4.335 million pesetas to the Fund. Asian Development and another of 21.7 million pesetas to the Special Technical Assistance Fund.

The Asian Development Fund (FAD) is the core of resources that the Asian Development Bank Group provides in concessional terms to its developing member countries eligible for it.

This Fourth Replenishment (FAD V in the institution's nomenclature) is intended to provide the SDF with new resources for the granting of loans for projects and programmes during the period 1987-1990, with funding to fifty years, zero interest rate and grace period of ten years.

Both reasons for the aid and the legitimate wishes of commercial policy, now advise that Spain participate in the initiative to which the practice of the industrialized countries has already been added.

The purpose of this Law is to establish the instrumentalization of Spanish participation.

Article first

The Government is hereby authorised to take the necessary measures to enable the Kingdom of Spain to participate in the Fourth Asian Development Fund (FAD V) in the conditions provided for in Resolution 182. adopted by the Board of Governors in October 1986, which is published as annexed to this Law.

Article second

According to the stated resolution, a new contribution to the Asian Development Fund by the Kingdom of Spain is authorized in four thousand and six million two hundred and seventy-three thousand. Four hundred and twenty pesetas (4.146.273.420 pesetas) or their equivalent in US dollars, at the rate of peseta/dollar exchange rate fixed by the Asian Development Bank at the time of making the payments, in accordance with the conditions laid down in the Resolution that integrates the annex to this Law.

Third Article

The Bank of Spain is hereby authorized to, in accordance with Article 21 of Decree-Law 18/1962 of 7 June, on the nationalisation and reorganization of the Banco de España, and other existing provisions on the subject disbursements necessary for the payment of the said subscription.

ADDITIONAL PROVISIONS

First

The Ministries of Foreign Affairs and Economy and Finance are empowered to take all measures to implement this Law.

Second

This Law will enter into force on the day following its publication in the "Official State Gazette".

Therefore,

I command all Spaniards, individuals and authorities, to keep and keep this Law.

Palacio de la Zarzuela, Madrid, 3 April 1989.

JOHN CARLOS R.

The President of the Government,

FELIPE GONZÁLEZ MARQUEZ

ATTACHED

Resolution number 182

REPLENISHMENT OF THE ASIAN DEVELOPMENT FUND AND THE SPECIAL TECHNICAL ASSISTANCE FUND

How much:

The Board of Directors has submitted to the Board of Governors a Report on the replenishment of the Asian Development Fund (FAsD) and the Bank's Special Technical Assistance Fund (FEAT);

Considering that the needs of its poorer and less developed member countries, the Bank should make a substantial replacement of the FAsD with a view to financing the concession programme for the period Four-year period starting in January 1987;

Given the desirability and importance of the regularization of the replenishment of the FEAT, the Bank should also initiate the periodic replenishment of the FEAT together with the periodic replenishment of the FAsD, and

All developed member countries and some developing member countries have indicated their intention to make contributions to the fourth replenishment of the FAsD and to the first regularized replenishment of the FEAT, according to the provisions set out in this Resolution, even if no compromise can be reached until all the necessary internal approvals have been obtained,

THE BOARD OF GOVERNORS RESOLVES THE FOLLOWING

1. Definitions

As used in this Resolution:

a) The word "member" means a member of the Asian Development Bank.

(b) The expression "contribution instrument" means the instrument by which a member confirms its intention to contribute in accordance with paragraph 4 of this Resolution.

(c) The expression "unconditional contribution" means the contribution covered by an instrument of unconditional contribution, as defined in paragraph 4.b) of this Resolution.

d) The expression "conditional contribution" means the contribution covered by a conditional contribution instrument, as defined in paragraph 4.c) of this Resolution.

e) The expression "unit of obligation" means the national currency of a member, the United States dollar, or the SDRs, as appropriate, that has chosen each member to name its contribution as specified in the last column of tables A and B attached to this Resolution, in which the contribution in accordance with paragraph 4 (a) of this Resolution is to be made.

(f) "Payment of" a contribution, or "pay" a contribution, means the payment of a contribution, or the payment of a contribution, in several instalments, by cash or deposit of notes or similar documents in accordance with paragraphs 6, 7 and 8 of this Resolution.

g) The word "deadline" means one of the deadlines in which a contribution has to be paid.

h) The expression "loan commitment" means the commitment of the funds spare parts made by the Bank to carry out its operations of liberal concessional loans or technical assistance.

i) The word "tranche" means the part of a contribution to be released by loan commitments in each of the four years covered by the replenishment in accordance with paragraph 9 of this Resolution.

(j) The word "provision" means the use of contributions by the Bank, for the purposes of the loan commitments, by the withdrawal of funds in the case of cash payments and by making the promissory notes (or other documents) in the case of payments made through such promissory notes (or other documents).

k) The expression "replacement" means the replacement of the FAsD and the FEAT authorised by this Resolution.

2. General clause

The Board of Governors accepts the Board of Directors ' Report and submits it to the consideration of all member countries of the Bank as a basis for obtaining the internal approval required for replenishment.

3. Contributions

3. a) Contributions of the Developed Members. The Bank is authorised to accept from the developed member countries contributions for the replenishment in quantities not less than those indicated for each of them, expressed in the corresponding units of obligation in Table A attached to this Resolution.

3. b) Contributions of the developing members. The Bank is also authorised to accept from the developing member countries listed in Table B together with this Resolution contributions for replenishment in quantities not less than those indicated for each of them, expressed in the corresponding units of obligation.

3. d) Allocation between the FAsD and the FEAT. The payment of the first instalment of each contribution made in accordance with this Resolution shall be set aside in proportion to the total amount of that contribution, a total amount equal to 72 million US dollars, which shall be shall assign to the FEAT. Except for the party so assigned to the FEAT, all contributions made under this Resolution shall be used and administered in accordance with the Bank's Regulation of the Asian Development Fund (FAsD Regulation). The part assigned to the FEAT shall be used and administered in accordance with the Regulation of the Special Fund for Technical Assistance (FEAT) of the Bank, with the exception that some of these resources will be used exclusively for aid to the Member countries of the poorest developing countries and for regional technical assistance undertaken by the Bank.

3. (d) Exemption from restrictions on acquisition. All contributions made in accordance with this Resolution may be used for the acquisition, within the territory of any Member State of the Bank, of goods produced in that territory or of services provided therefrom.

3. (e) Additional contributions. By way of derogation from paragraphs 3 (a) and 3 (b), the Bank may accept from any Member State any additional contributions to the FAsD or the FEAT, within the time limits and conditions, which are compatible with the FAsD Regulation or with the The Bank's FEAT, to be agreed with the Bank. The provisions on allocations in paragraph 3.c) above shall not apply to any of those additional contributions, unless otherwise specified in the relevant contribution document.

4. Contribution instrumentation

4. a) General clause. In order to make a contribution to this Resolution, the member shall deposit in the Bank an Instrument of Contribution which formally agrees to contribute in accordance with that Resolution and specifies the amount of the contribution in the the corresponding obligation unit, as described in table A or table B attached.

4. (b) unconditional contribution. Without prejudice to the provisions of paragraph 4. (c) the Instrument for Contribution shall constitute an unconditional commitment by the Member to the Bank to make the payment of the contribution in the manner and in the conditions set out in this Resolution and referred to therein. For the purposes of this Resolution, the contribution covered by that Instrument shall be called Unconditional Contribution.

4. c) Conditional contribution. As an exceptional case, where a member is unable to offer an unconditional contribution due to its legislative practices, the Bank may accept a Contribution Instrument containing the condition that the payment of all the time limits for the contribution, except the first, shall be subject to future budgetary allocations. This instrument, however, shall include the guarantee that it shall endeavour to obtain the necessary appropriations, at the rate specified in paragraph 9 (b), during the replenishment period and that, as soon as each of them is obtained, it shall be notified of the to the Bank. For the purposes of this Resolution, the contributions covered by that Institute shall be called Conditional Contributions, and shall be deemed to be unconditional to the extent that the entries are obtained.

5. Validity

5. a) Vigency of the replenishment. The replacement shall enter into force on the date on which the Contribution Instruments relating to the contributions referred to in paragraph 3 have been deposited with the Bank. (a) above which correspond to commitments of unconditional contribution for a total amount equal to at least 800,000,000 US dollars. Unless the Board of Guidelines determines otherwise, that date shall not be later than 31 May 1987.

5. b) Vigency of each of the contributions. The Contribution Instruments deposited on or before the date of entry into force of the replacement shall take effect on that date, and the Contribution Instruments deposited after that date shall take effect on their respective dates of repository.

6. Payment of instalments

6. a) Payment dates. Without prejudice to the contrary in this Resolution, each contribution made pursuant to this Resolution shall be paid in instalments, at the rate of a payment, at least in each of the four calendar years covered by the replenishment, unless, the Board of Directors shall determine otherwise, the first, second and third instalments shall be paid no later than 1 November 1987, 1988 and 1989 respectively, and the latest, by 31 December 1990 at the latest. Payments relating to Conditional Contributions shall be made within 90 days, in so far as each period has become unconditional and without prejudice to the annual payment dates specified above in the same period. paragraph.

6. (b) Amount of time limit. The payment of the instalments relating to each conditional contribution shall be, at the option of the member: (i) of equal amounts, or (ii) of progressively graduated amounts, so that the first period shall be at least 20 per 100 of the contribution, the second term at least 23 per 100, the third term at least 27 per 100, and the fourth term covers the remaining balance. The payment of the time-limits for each conditional contribution shall be equal.

6. (c) Optional arrangements. Any member who wishes to do so may pay his contribution at a lower number of instalments in higher percentage parts or on dates prior to those specified in paragraphs 6. a) and 6. (b) above, provided that such a payment scheme is not less favourable to the Bank.

6. (d) Deferred contribution. If a member deposits a Contribution Instrument after the date on which the first instalment is due in accordance with paragraph 6. (a) the payment of any period expired at the time of the deposit of the Contribution Instrument in accordance with paragraphs 6. a) and 6. (b) above shall be made within 90 days of the date of such deposit.

6. (e) Programme of payments. When making the deposit of its Contribution Instrument, each member shall indicate to the Bank the payment schedule it proposes, on the basis of the arrangements set out in the preceding provisions of paragraph 6.

6. (f) Conditions of payment. By way of derogation from paragraph 6, no member shall be required to make a payment in respect of his contribution, except in so far as the contribution is available for loan commitments as specified in the paragraph 9.

7. Mode of payment

All payments relating to each contribution made under this Resolution shall be made in cash or, at the option of the member, by the deposit of non-negotiable and non-interest-bearing notes or documents that reflect obligations similar to the member, which may be made effective by the Bank at the same time as its presentation to satisfy the commitments of loans in accordance with the system of use determined by the Board of Directors.

8. Currency of payment

8. a) General clause. All contributions made under this Resolution shall be paid in freely convertible currencies.

8. (b) The applicable exchange rate. Where the currency for the payment of the contribution is different from the unit of obligation applicable to that contribution, as set out in Table A or Table B attached to this Resolution, the amount of the payment of each deadline relating to the the contribution shall be determined on the basis of the exchange rate used by the Bank for the purpose of conversion into its accounting books at the time the payment is made.

9. Conditions for the commitment of loans

9. a) Unconditional contribution. For the purpose of the Bank's commitment of funds, each Unconditional Contribution shall be divided into four equal tranches and shall be made available for loan commitments as follows:

(i) The first tranche: On the date of the entry into force of the relevant Contribution instrument.

(ii) The second tranche: From 1 January 1988 (or from the date of the entry into force of the relevant Contribution Instrument, if any later), provided that before that date they have been deposited with the Bank. Contribution instruments relating to the contributions referred to in paragraph 3. (a) above for a total amount equivalent to at least USD 2,880,000,000, which must include all conditional contributions, and provided that for each conditional contribution it has become unconditional in the amount of a quarter of its total amount.

(iii) In the third tranche: From 1 January 1989 (or from the date of the entry into force of the relevant Contribution Instrument, if any later), provided that before that date each Conditional Contribution is converted into an unconditional amount of half of its total amount.

(iv) The fourth tranche: In proportion to the amount in which each Conditional Contribution has become unconditional above the three-quarters of its total amount.

9. b) Conditional contribution. Each Conditional Contribution shall be made available for loan commitments in so far as it has become unconditional, which shall be produced at the rate of an agreement of its total amount in each of the four years covered by the loan. the replacement. The provision for the proportional release of the unconditional contributions as set out in paragraph 9.c. (iii) shall also apply to the unconditional instalments of a conditional contribution.

9. c) Exception clause. By way of derogation from the preceding provisions of paragraph 9, the Bank may contract loan commitments in accordance with the following:

(i) Any member may notify the Bank that its contribution, or part thereof, is considered as an advance contribution from which the Bank may have available for loan commitments prior to the entry into force of the Replenishment. At the time of such entry into force, the amounts thus made available to the Bank shall cease to be considered as anticipated.

(ii) Any member may authorise the Bank to use the second, third or fourth tranche of its contribution, or part thereof, for loan commitments under a more favourable calendar for the Bank than the Bank. specified in paragraphs 9. a) and 9. (b) above.

(iii) If a member who has made a conditional contribution cannot, one year, make available to the Bank for loan commitments an amount equal to one quarter of his total contribution, that member shall indicate to the Bank the revised amount which shall be converted into unconditional and its intention as regards the supply of the insufficiency within the following period or time limits, and shall therefore be deemed to be the preconditions for the release of the second and third tranches, corresponds, of the Unconditional Contributions specified in the second stipulation of paragraph 9. (a), (ii), previous and in paragraph 9. (a), (iii), previous AIDS has been modified in such a way that these tranches of Unconditional Contributions are released in proportion to the amount in which the Conditional Contribution has been made unconditional.

10. Meeting of the contributing countries

If, during the period covered by the replenishment, delays in making any contribution commitments will cause or threaten to cause a suspension of the concessional or concessional lending operations. technical assistance of the Bank, or otherwise prevent substantial achievement of the objectives of the replenishment, the Bank shall convene a meeting of representatives of the contributing countries referred to in paragraph 3. (a) to examine the situation and consider ways of obtaining the necessary contribution commitments and, on the basis of the recommendation of that meeting, the Board of Directors shall take the necessary measures.

11. Exchange rates

When determining monetary equivalents, for the purposes of this Resolution, the exchange rate to be applied to the national currency of a member, the United States dollar and the SDR shall be, except for the exception provided for in the paragraph 8. (b) above, the above in Table C attached to this Resolution.

TABLE TO: CONTRIBUTIONS FROM DEVELOPED MEMBER COUNTRIES

	Country	United States Dollars	Currency national		DEG	Obligation
Australia	287 438,920	410,000,000	A$	255.583.050	National currency.
Austria	31.320,000	517.067.520	S	27,848,910
	Belgium	Belgium	Belgium Table_table_der" > 28.800,000	1.385.723.810	BFr	25,608 190		Canada
299,000,000	419.721.250	C$	265.862.850
	Denmark	277.374.120	Denmark	DKr	28.489.120	National currency.
Finland	28,800,000	151.732,510	FMk	25.608.190	National currency.
France	194.040,000	1.401.197.770	FF	172.535.210	National currency
Germany	236.160,000	555.398,730	DM	209.987,200	DEG.
	Italy	159.120,000	254.532.447.750	Li	141.485.280	National currency.
Japan	1.321.220,000	248.026.711.530	Y	1.174.793.710	National Currency.
Netherlands (1)	90,480,000	240.143.870	f	80,452,410	New Zealand
	14.400,000	27,419.180	New Zealand		NZ$	12.804.100	Norway
	28.080,000	205.936,190	NKr	24,967,990	National currency.
Spain	28.080,000	4.146.273.420	Ptas	24 967 990	National currency.
Sweden	49.320,000	365.651.580	SKr	43.854.030	Switzerland
Switzerland	Switzerland Table_table_der" > 44.280,000	87.654.470	SwF	39 372,600	UK
	136.800,000	95.082.840	136.800,000	L	121.638.920	States
	584,280,000	584,280,000	US$	519.526.250	National currency
Total	3.593.658.920			3.195.386,000

Note: This table is based on the exchange rates referred to in paragraph 11 of the Resolution.

(1) The Netherlands ' contribution includes an amount of $3,000,000 (equivalent, approximately, to 8,000,000 guilders), which the Netherlands has agreed to provide as an additional contribution, on the condition that the calculation of the relative percentage shares of the donor countries for the purposes of negotiating future repositions of the FDAs is not taken into account.

TABLE B: CONTRIBUTIONS FROM DEVELOPING MEMBER COUNTRIES

Country	US Dollars. UU.	DEG	Obligation
Indonesia	1.778.350	1.778.350	US Dollars. UU.
Korea, Republic of	5,000,000	4.445.870
Other Developing Member Countries	1,550,000	1.333.760
Total	8,500,000	7.557,980

Note: This table is based on the exchange rates referred to in paragraph 11 of the Resolution.

TABLE C: CHANGE TIPOS

	Country	National Currency	Units national per dollar currency	DEG
Australia	$	1,42639	Austria
		16,50918		Belgium
	BFr	48.11541	54,05040
Canada	1,40375		1,57835
Denmark	DKr	8.65712	9.72301
Finland	5.26849	5.26849		France
		7.22118	France	7.22118			Germany
DM	2.35179	Germany		Italy
	Italy	Li	1.599.62574	1.798.10000
Japan	187.72552		211.09700
Netherlands	2.65411		2.65411		New Zealand
NZ$	1.90411	Norway
	Nkr	7.33391	Norway	7.33391		Spain
Spain		147.65931	165.91900
Sweden	7.41386		8.33462
Switzerland	SwF	1,97955	2.22430
	L	0.69505	States
US$	1.00000	1.00000	Table_table_der" >1.12464

Note: In accordance with paragraph 11 of the Resolution, the exchange rates indicated in this table are applicable to determine the monetary equivalents for the purposes of the Resolution, except for the exception provided for in paragraph 8.b. the Resolution. These exchange rates represent the average daily rates for the period from 1 January to 31 March 1986.