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2018-02-13 | BWBV0003787 | Overeenkomst tot instelling van het Internationaal Fonds voor Agrarische Ontwikkeling

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Coornhert 2018-02-13 12:00:00 +00:00
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verdrag/overeenkomst-tot-instelling-van-het-internationaal-fonds-voor-agrarische-ontwikk/BWBV0003787/README.md
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@ -57,13 +57,14 @@ In order to assure continuity in the operations of the Fund, the Governing Counc
The Governing Council may authorize, at any time, a Member to increase the amount of any of its contributions.
(a) Contributions shall be made without restriction as to use and shall be refunded to contributing Members only in accordance with Section 4 of Article 9.
(b) Contributions shall be made in freely convertible currencies.
(c) Contributions to the Fund shall be made in cash or, to the extent that any part of such contributions is not needed immediately by the Fund in its operations, such part may be paid in the form of nonnegotiable, irrevocable, non-interest bearing promissory notes or obligations payable on demand. In order to finance its operations, the Fund shall draw down all contributions (regardless of the form in which they are made) as follows:
a) Contributions shall be made without restriction as to use and shall be refunded to contributing Members only in accordance with section 4 of article 9.
b) Contributions shall be made in freely convertible currencies.
c) Contributions to the Fund shall be made in cash or, to the extent that any part of such contributions is not needed immediately by the Fund in its operations, such part may be paid in the form of nonnegotiable, irrevocable, non-interest-bearing promissory notes or obligations payable on demand. In order to finance its operations, the Fund shall draw down all contributions (regardless of the form in which they are made) as follows:
(i) contributions shall be drawn down on a *pro rata* basis over reasonable periods of time as determined by the Executive Board;
(i) contributions shall be drawn down on a pro rata basis over reasonable periods of time as determined by the Executive Board;
(ii) where a contribution is paid partly in cash, the part so paid shall be drawn down, in accordance with paragraph (i), before the rest of the contribution. Except to the extent that the part paid in cash is thus drawn down, it may be deposited or invested by the Fund to produce income to help defray its administrative and other expenditures;
(iii) all initial contributions, as well as any increases in them, shall be drawn down before any additional contributions are drawn down. The same rule shall apply to further additional contributions.
d) Notwithstanding subsection (c) above, contributions to the Fund may also be made in the form of the grant element of a concessional partner loan; for this purpose, a “concessional partner loan” shall mean a loan provided by a Member or one of its state-supported institutions, which includes a grant element for the benefit of the Fund and is otherwise consistent with the Concessional Partner Loan Framework approved by the Executive Board; and “state-supported institution” shall mean any state-owned or state-controlled enterprise and development finance institution of a Member, with the exception of multilateral institutions.
The resources of the Fund may be increased by special contributions from non-member States or other sources on such terms and conditions, consistent with Section 5 of this Article, as shall be approved by the Governing Council on the recommendation of the Executive Board.