11 Sep Articles Of Agreement World Bank
You clicked on a link to a page that is not part of the beta version of the new worldbank.org. Before we leave, we`d love to get your feedback on your experience while you`ve been here. Will you take two minutes to complete a brief survey that will help us improve our website? (a) there shall be an Advisory Board composed of at least seven persons, selected by the Governing Council, including representatives of the interests of banking, commerce, industry, labour and agriculture, and with the widest possible national representation; In areas where specialized international organizations exist, the members of the Council representing those fields shall be chosen in agreement with those organizations. The Board advises the Bank on policy issues. The Board meets annually and on such other occasions as the Bank may have identified. (c) Bonds or guarantees issued by the bank (including dividends or interest thereof) held by anyone are not taxable: (i) the bank may, in its sole discretion, enter into agreements with the member concerned to make service payments for the loan in the member`s currency for periods of up to three years, on reasonable terms with respect to the use of that currency and to maintain their value in foreign currency; and for the redemption of this currency on reasonable terms. (iii) by the total or partial guarantee of loans from private investors through the usual investment channels. In order to enable the Bank to carry out the tasks entrusted to it, the Bank shall be accorded in the territory of each Member the status, immunities and privileges defined in this Article. (c) if a member suffers from acute exchange rate tension, so that the provision of a contractual or guaranteed loan by that member or by one of its branches cannot be provided in the prescribed manner, the member concerned may request the bank to relax the terms of payment. If the Bank is satisfied that some flexibility is in the interest of the member concerned and of the operations of the bank and its members as a whole, it may act in respect of all or part of the annual service in accordance with one or both of the following subparagraphs: (i) the right to resign from the bank provided for in Article VI; Section 1;. .