Agreement Establishing The ADB Simplified on Superphysics

Capital

Mon, 01 Jan 0001 00:00:00 +0000

Article 4: Authorized Capital

The Bank’s authorized capital stock shall be $l,000,000,000 from 31 January 1966.

This will be divided into 100,000 shares having a par value of $10,000 each, which shall be available for subscription only by members in accordance with the provisions of Article 5 of this Agreement.

Final Provisions

Mon, 01 Jan 0001 00:00:00 +0000

Article 63: SIGNATURE AND DEPOSIT

The original of this Agreement in a single copy in the English language shall remain open for signature at the United Nations Economic Commission for Asia and the Far East, in Bangkok, until 31 January 1966 by Governments of countries listed in Annex A to this Agreement.

This document shall thereafter be deposited with the Secretary-General of the United Nations (hereinafter called the “Depository”).

Purpose, Functions, Membership

Mon, 01 Jan 0001 00:00:00 +0000

Article 1: Purpose

The Bank shall:

Use Of Resources

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Article 8

The resources and facilities of the Bank shall be used exclusively to implement the purpose and functions set forth respectively in Articles 1 and 2 of this Agreement.

Operating Principles

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Article 14: Operating Principles

Bank operations will follow these principles:

These are for financing of specific projects, including those forming part of a national, sub-regional or regional development programme.

They may, however, include loans to, or guarantees of loans made to, national development banks or other suitable entities, in order that the latter may finance specific development projects whose individual financing requirements are not, in the opinion of the Bank, large enough to warrant the direct supervision of the Bank;

Borrowing And Other Miscellaneous Powers

Mon, 01 Jan 0001 00:00:00 +0000

Article 21: GENERAL POWERS

The Bank shall have the power to:

Borrow funds in member countries or elsewhere, and in this connection to furnish such collateral or other security therefore as the Bank shall determine, provided always that=

a) before making a sale of its obligations in the territory of a country, the Bank shall have obtained its approval
b) where the obligations of the Bank are to be denominated in the currency of a member, the bank shall have obtained its approval
c) the Bank shall obtain the approval of the countries referred to in sub-paragraphs (a) and (b) of this paragraph that the proceeds may be exchanged for the currency of any member without restriction; and
d) before determining to sell its obligations in a particular country, the Bank shall consider the amount of previous borrowing, if any, in that country, the amount of previous borrowing in other countries, and the possible availability of funds in such other countries; and shall give due regard to the general principle that its borrowings should to the greatest extent possible be diversified as to country of borrowing.

buy and sell securities the Bank has issued or guaranteed or in which it has invested, provided always that it shall have obtained the approval of any country in whose territory the securities are to be bought or sold;

Currencies

Mon, 01 Jan 0001 00:00:00 +0000

Article 23: Determination Of Convertibility

Whenever it shall become necessary under this Agreement to determine whether any currency is convertible, such determination shall be made by the Bank after consultation with the IMF.

Organization And Management

Mon, 01 Jan 0001 00:00:00 +0000

Article 26: STRUCTURE

The Bank shall have

a Board of Governors
a Board of Directors
a President
one or more Vice-Presidents
other officers and staff

Article 27: BOARD OF GOVERNORS= COMPOSITION

Each member shall be represented on the Board of Governors and shall appoint one Governor and one alternate.

Each Governor and alternate shall serve at the pleasure of the appointing member. No alternate may vote except in the absence of his principal. At its annual meeting, the Board shall designate one of the Governors as Chairman who shall hold office until the election of the next Chairman and the next annual meeting of the Board.

Voting

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Article 33 VOTING

The total voting power of each member shall consist of the sum of its basic votes and proportional votes.

2.1. The basic votes of each member shall consist of such number of votes as results from the equal distribution among all the members of twenty (20) per cent of the aggregate sum of the basic votes and proportional votes of all the members. 2.2. The number of the proportional votes of each member shall be equal to the number of shares of the capital stock of the Bank held by that member.

Withdrawal And Suspension Of Members, Temporary Suspension And Termination Of Bank Operations

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Article 41: WITHDRAWAL

Any member may withdraw from the Bank at any time by delivering a notice in writing to the Bank at its principal office.
Withdrawal by a member shall become effective, and its membership shall cease, on the date specified in its notice but in no event less than six (6) months after the date that notice has been received by the Bank. However, at any time before the withdrawal becomes finally effective, the member may notify the Bank in writing of the cancellation of its notice of intention to withdraw.

Status, Immunities, Exemptions And Privileges

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This is to enable the Bank effectively to fulfill its purpose. The status, immunities, exemptions and privileges set forth in this Chapter shall be accorded to the Bank in the territory of each member.

Amendments, Interpretation, Arbitration

Mon, 01 Jan 0001 00:00:00 +0000

Article 59: AMENDMENTS

This Agreement may be amended only by a resolution of the Board of Governors approved by a vote of 2/3 of the total number of Governors, representing not less than three-fourths of the total voting power of the members.

Election Of Directors

Mon, 31 Jan 2022 00:00:00 +0000

Section A. - Election of Directors by Governors representing regional members.

Each Governor representing a regional member shall cast all votes of the member he represents for a single person.