II SÉRIE-A — NÚMERO 98 6
OPERATIONS OF THE BANK
Article 9 Use of Resources
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, and in accordance with sound banking principles.
Article 10 Ordinary and Special Operations
1. The operations of the Bank shall consist of:
(i) ordinary operations financed from the ordinary resources of the Bank, referred to in Article 8; and
(ii) special operations financed from the Special Funds resources referred to in Article 17.
The two types of operations may separately finance elements of the same project or program.
2. The ordinary resources and the Special Funds resources of the Bank shall at all times and in all respects
be held, used, committed, invested or otherwise disposed of entirely separately from each other. The financial
statements of the Bank shall show the ordinary operations and special operations separately.
3. The ordinary resources of the Bank shall, under no circumstances, be charged with, or used to discharge,
losses or liabilities arising out of special operations or other activities for which Special Funds resources were
originally used or committed.
4. Expenses appertaining directly to ordinary operations shall be charged to the ordinary resources of the
Bank. Expenses appertaining directly to special operations shall be charged to the Special Funds resources. Any
other expenses shall be charged as the Bank shall determine.
Article 11 Recipients and Methods of Operation
1. (a) The Bank may provide or facilitate financing to any member, or any agency, instrumentality or
political subdivision thereof, or any entity or enterprise operating in the territory of a member, as well as to
international or regional agencies or entities concerned with economic development of the region.
(b) The Bank may, in special circumstances, provide assistance to a recipient not listed in sub-paragraph (a)
above only if the Board of Governors, by a Super Majority vote as provided in Article 28: (i) shall have determined
that such assistance is designed to serve the purpose and come within the functions of the Bank and is in the
interest of the Bank’s membership; and (ii) shall have specified the types of assistance under paragraph 2 of this
Article that may be provided to such recipient.
2. The Bank may carry out its operations in any of the following ways:
(i) by making, co-financing or participating in direct loans;
(ii) by investment of funds in the equity capital of an institution or enterprise;
(iii) by guaranteeing, whether as primary or secondary obligor, in whole or in part, loans for economic
(iv) by deploying Special Funds resources in accordance with the agreements determining their use;
(v) by providing technical assistance in accordance with Article 15; or
(vi) through other types of financing as may be determined by the Board of Governors, by a Special Majority
vote as provided in Article 28.
Article 12 Limitations on Ordinary Operations
1. The total amount outstanding of loans, equity investments, guarantees and other types of financing
provided by the Bank in its ordinary operations under sub-paragraphs 2 (i), (ii), (iii) and (vi) of Article 11 shall not
at any time be increased, if by such increase the total amount of its unimpaired subscribed capital, reserves and
retained earnings included in its ordinary resources would be exceeded. Notwithstanding the provisions of the
preceding sentence, the Board of Governors may, by a Super Majority vote as provided in Article 28, determine
at any time that, based on the Bank’s financial position and financial standing, the limitation under this paragraph