Articles Of Agreement World Bank

Thank you for agreeing to comment on the new version of worldbank.org; Your response will help us improve our website. Thank you for your participation in this survey! Your feedback is very helpful to us as we work to improve the website`s functionality on worldbank.org. The ICSID Convention came into force through a multilateral agreement and came into force on 14 October 1966. Each organization of the World Bank Group operates according to procedures established by its contractual provisions or by an equivalent government document. These documents describe the terms of membership and the general principles of organization, management and operations. You clicked on a link to a page that is not part of the beta version of the new worldbank.org. Before you leave, we`d like to hear from you about your experience while you were here. Will you take two minutes to complete a brief survey that will help us improve our website? b) all loan contracts define the currency or currencies in which payments are made to the Bank under the contract. However, at the borrower`s choice, these payments may be made in gold or, subject to the bank`s agreement, in the currency of a member other than the part stipulated in the contract. (a) Each member designates his central bank as the custodian of all the Bank`s assets in its currency or, if it does not have a central bank, the other institution that is acceptable to the Bank.

(a) There is an advisory board of no less than seven people selected by the Governing Council, including representatives from the banking, industry, industry, labour and agriculture sectors, and with as broad a national representation as possible. In areas where specialized international organizations exist, Council members who are representative of these areas are chosen in agreement with these organizations. The Council advises the Bank on policy issues. The Board meets annually and on other occasions that the Bank may request. . In order to enable the Bank to perform the tasks entrusted to it, the status, immunities and privileges provided by this article are recognized at the Bank on the territory of each member. c) The Bank`s commitments or guarantees (including dividends or potential interest) are not subject to taxation of any kind held by anyone: (i) The basic votes of each member are the votes resulting from the equal distribution of all members of 5.55% of the total voting rights of all members. , provided there are no split base votes. Governments in the name of signing this agreement agree: (i) the right to withdraw from the Bank under Section 1 of Article VI; 3, Section 3, point a), was amended effective June 27, 2012. Before the amendment, each member had 250 basic votes. DONE in Washington, in a single copy, which should be kept in the archives of the United States government, transmitting certified copies in accordance with all Schedule A governments and all governments whose affiliation is authorized in accordance with Article II, paragraph 1, paragraph b).

The IBRD agreement was drawn up at the United Nations Financial and Monetary Conference in Bretton Woods, New Hampshire, july 1-22, 1944. The government document came into force on December 27, 1945 and was amended three times: December 17, 1965, February 16, 1989 and June 27, 2012.