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IBRD Articles of Agreement



The IBRD Articles of Agreement are also available in PDF format: ibrd-articlesofagreement.pdf (100k) (As amended effective February 16, 1989) Table of Contents INTRODUCTORY ARTICLE The International Bank for Reconstruction and Development is established and shall operate in accordance with the following provisions: ARTICLE I: Purposes ARTICLE II: Membership in and Capital of the Bank SECTION 1. Membership SECTION 2. Authorized Capital SECTION 3. Subscription of Shares SECTION 4. Issue Price of Shares SECTION 5. Division and Calls of Subscribed Capital SECTION 6. Limitation on Liability SECTION 7. Method of Payment of Subscriptions for Shares SECTION 8. Time of Payment of Subscriptions SECTION 9. Maintenance of Value of Certain Currency Holdings of the Bank SECTION 10. Restriction on Disposal of Shares ARTICLE III: General Provisions Relating to Loans and Guarantees SECTION 1. Use of Resources SECTION 2. Dealings between Members and the Bank SECTION 3. Limitations on Guarantees and Borrowings of the Bank SECTION 4. Conditions on which the Bank may Guarantee or Make Loans SECTION 5. Use of Loans Guaranteed, Participated in or Made by the Bank SECTION 6. Loans to the International Finance Corporation(1) ARTICLE IV: Operations SECTION 1. Methods of Making or Facilitating Loans SECTION 2. Availability and Transferability of Currencies SECTION 3. Provision of Currencies for Direct Loans SECTION 4. Payment Provisions for Direct Loans SECTION 5. Guarantees SECTION 6. Special Reserve SECTION 7. Methods of Meeting Liabilities of the Bank in Case of Defaults SECTION 8. Miscellaneous Operations SECTION 9. Warning to be Placed on Securities SECTION 10. Political Activity Prohibited ARTICLE V: Organization and Management SECTION 1. Structure of the Bank SECTION 2. Board of Governors SECTION 3. Voting SECTION 4. Executive Directors SECTION 5. President and Staff SECTION 6. Advisory Council SECTION 7. Loan Committees SECTION 8. Relationship to Other International Organizations SECTION 9. Location of Offices SECTION 10. Regional Offices and Councils SECTION 11. Depositories SECTION 12. Form of Holdings of Currency SECTION 13. Publication of Reports and Provision of Information SECTION 14. Allocation of Net Income ARTICLE VI: Withdrawal and Suspension of Membership: Suspension of Operations SECTION 1. Right of Members to Withdraw SECTION 2. Suspension of Membership SECTION 3. Cessation of Membership in International Monetary Fund SECTION 4. Settlement of Accounts with Governments Ceasing to be Members SECTION 5. Suspension of Operations and Settlement of Obligations ARTICLE VII: Status, Immunities and Privileges SECTION 1. Purposes of the Article SECTION 2. Status of the Bank SECTION 3. Position of the Bank with Regard to judicial Process SECTION 4. Immunity of Assets from Seizure SECTION 5. Immunity of Archives SECTION 6. Freedom of Assets from Restrictions SECTION 7. Privilege for Communications SECTION 8. Immunities and Privileges of Officers and Employees SECTION 9. Immunities from Taxation SECTION 10. Application of Article ARTICLE VIII: Amendments ARTICLE IX: Interpretation ARTICLE X: Approval Deemed Given ARTICLE XI: Final Provisions SECTION 1. Entry into Force SECTION 2. Signature SECTION 3. Inauguration of the Bank SCHEDULE A: Subscriptions SCHEDULE B: Election of Executive Directors

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