The Inter-American Development Bank (Contribution to the Fund for Special Operations) Order 2011

• Citation: S.I. 2011/1768
• Sections: 3

Section 1 Citation and commencement

This Order may be cited as the Inter-American Development Bank (Contribution to the Fund for Special Operations) Order 2011 and comes into force on the day after the day on which it is made.

Section 2 Interpretation

In this Order—

“the Agreement” means the agreement establishing the Inter-American Development Bank dated 8th April 1959, as ratified by the Government on 9th July 1976 ;

“ the Bank ” means the Inter-American Development Bank established by the Agreement;

“ the Fund ” means the Fund for Special Operations of the Bank established by the Agreement;

“the Government” means the Government of the United Kingdom; and

“the Resolution” means a resolution adopted by the Board of Governors of the Bank that is materially identical to the proposed resolution titled “Increase in the Resources of the Fund for Special Operations and Contributions Thereto” annexed to the Bank’s Report on the Ninth General Capital Increase in the resources of the Inter-American Development Bank.

Section 3 Relevant Payments

The Secretary of State may, on behalf of the Government—

(a) make payment of a further contribution to the Fund not exceeding in the aggregate the equivalent of 9,287,455 United States Dollars in accordance with arrangements made between the Government and the Bank in accordance with the Resolutions; and

(b) make payment of sums required to redeem any non-interest-bearing and non-negotiable notes or other obligations which may be issued or created by the Secretary of State and accepted by the Bank pursuant to the arrangements mentioned in paragraph (a),

in accordance with section 11 of the International Development Act 2002.