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Wednesday, 21 October 2015 09:55

Asian Infrastructure Investment Bank

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The countries on whose behalf the present Agreement is signed agree as follows:

CONSIDERING the importance of regional cooperation to sustain growth and promote economic and social development of the economies in Asia and thereby contribute to regional resilience against potential financial crises and other external shocks in the context of globalization;

ACKNOWLEDGING the significance of infrastructure development in expanding regional connectivity and improving regional integration, thereby promoting economic growth and sustaining social development for the people in Asia, and contributing to global economic dynamism;

REALIZING that the considerable long-term need for financing infrastructure development in Asia will be met more adequately by a partnership among existing multilateral development banks and the Asian Infrastructure Investment Bank (hereinafter referred to as the “Bank”);

CONVINCED that the establishment of the Bank as a multilateral financial institution focused on infrastructure development will help to mobilize much needed additional resources from inside and outside Asia and to remove the financing bottlenecks faced by the individual economies in Asia, and will complement the existing multilateral development banks, to promote sustained and stable growth in Asia; 

 

HAVE AGREED to establish the Bank, which shall operate in accordance with the following:    

Chapter I PURPOSE, FUNCTIONS AND MEMBERSHIP Article 1 Purpose. 

Article 2 Functions.

Article 3 Membership.

CHAPTER II CAPITAL Article 4 .................................... Authorized Capital

Article 5 Subscription of Shares.

Article 6 Payment of Subscriptions.

Article 7 Terms of Shares.

Article 8 Ordinary Resources.

CHAPTER III OPERATIONS OF THE BANK Article 9 ... Use of Resources.

Article 11     Recipients and Methods of Operation.

Article 12     Limitations on Ordinary Operations.

Article 13     Operating Principles.

Article 14     Terms and Conditions for Financing.

Article 15 Technical Assistance.

CHAPTER IV FINANCES OF THE BANK Article 16 General Powers.

Article 17 Special Funds.

Article 18 Allocation and Distribution of Net Income.

Article 19 Currencies.

CHAPTER V GOVERNANCE Article 21 Structure.

Article 22 Board of Governors: Composition.

Article 23 Board of Governors: Powers.

Article 24 Board of Governors: Procedure.

Article 25 Board of Directors: Composition.

Article 26 Board of Directors: Powers.

Article 27 Board of Directors: Procedure.

Article 28 Voting.

Article 29 The President

Article 30 Officers and Staff of the Bank.

Article 31 The International Character of the Bank.

CHAPTER VI GENERAL PROVISIONS Article 32 Offices of the Bank.

Article 33 Channel of Communication; Depositories.

Article 34     Reports and Information.

Article 35 Cooperation with Members and International Organizations.

Article 36 References.

CHAPTER VII WITHDRAWAL AND SUSPENSION OF MEMBERS Article 37 Withdrawal of Membership.

Article 38 Suspension of Membership.

Article 39 Settlement of Accounts.

CHAPTER VIII SUSPENSION AND TERMINATION OF OPERATIONS OF THE BANK Article 40 Temporary Suspension of Operations. 

Article 41 Termination of Operations.

Article 42 Liability of Members and Payments of Claims.

Article 43 Distribution of Assets.

CHAPTER IX STATUS, IMMUNITIES, PRIVILEGES AND EXEMPTIONS Article 44 Purposes of Chapter 22

Article 45 Status of the Bank.

Article 46 Immunity from Judicial Proceedings.

Article 47 Immunity of Assets and Archives.

Article 48 Freedom of Assets from Restrictions.

Article 49 Privilege for Communications.

Article 51 Exemption from Taxation.

Article 52     Waivers.

CHAPTER X AMENDMENT, INTERPRETATION AND ARBITRATION Article 53 Amendments.

Article 54 Interpretation.

Article 55 Arbitration.

Article 56 Approval Deemed Given.

CHAPTER XI FINAL PROVISIONS Article 57 Signature and Deposit

Article 58 Ratification, Acceptance or Approval

Article 59 Entry into Force.

Article 60 Inaugural Meeting and Commencement of Operations.

SCHEDULE A Initial Subscriptions to the Authorized Capital Stock for Countries Which May Become Members in accordance with Article 58

NON-REGIONAL MEMBERS.

SCHEDULE B ELECTION OF DIRECTORS.

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