Section 10
SEC. 10. For the purpose of any action which may be brought within the Philippines by or against the Fund or the Bank in accordance with the Articles of Agreement of Agreement of the Fund or the Articles of Agreement of the Bank, the Fund or Bank, as the case may be, shall be deemed to be a resident of the province or city in which its branch office in the Philippines is located, and any such action to which either the Fund or the Bank shall be a party shall be deemed to arise under the laws of the Philippines, and the Court of First Instance shall have original jurisdiction of any such action. STATUS, IMMUNITIES, AND PRIVILEGES