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58

II SÉRIE - A — NÚMERO 7

RESOLUÇÃO

APROVAÇÃO, PARA ADESÃO, DO CONVÉNIO CONSTITUTIVO DA ASSOCIAÇÃO INTERNACIONAL DE DESENVOLVIMENTO

A Assembleia da República resolve, nos termos dos artigos 164.°, alínea ;'), e 169.°, n.° 5, da Constituição, aprovar, para adesão, o Convénio Constitutivo da Associação Internacional de Desenvolvimento, cujo original em inglês e a respectiva tradução seguem em anexo.

Mais resolve autorizar o Governo, através do Ministro das Finanças, com possibilidade de delegar, a praticar todos os actos necessários à adesão de Portugal ao Convénio Constitutivo da Associação Internacional de Desen vol v imento.

Aprovada em 3 de Novembro de 1992.

O Presidente da Assembleia da República, António Moreira Barbosa de Melo.

ARTICLES OF AGREEMENT OF THE INTERNATIONAL DEVELOPMENT ASSOCIATION

The Governments on whose behalf this Agreement is signed, considering:

That mutual cooperation for constructive economic purposes, healthy development of the world economy and balanced growth of international trade foster international relationships conducive to the maintenance of peace and world prosperity;

That an acceleration of economic development which will promote higher standards of living and economic and social progress in the less-developed countries is desirable not only in the interests of those countries but also in the interests of the international community as a whole;

That achievement of these objectives would be facili-taded by an increase in the international flow capital, public and private, to assist in the development of the resources of die less-developed countries;

do hereby agree as follows:

INTRODUCTORY ARTICLE

The International Development Association (hereinafter called «the Association^ is established and shall operate in accordance with the following provisions.

ARTICLE I Purposes

The purposes of the Association are to promote economic development increase productivity and thus raise standards of living in the less-developed areas of the world included within the Associations' s membership, in particular by providing finance to meet their important developmental requirements on terms which are more flexible and bear less

heavily on the balance of payments than those of conventional loans, thereby furthering the developmental objectives of the International Bank for Reconstruction and Development (hereinafter called «the Bank») and supplementing its activities.

The Association shall be guided in all its decisions by the provisions of this article.

ARTICLE n Membership; initial subscriptions

Section 1

Membership

a) The original members of the Association shall be those members of the Bank listed in schedule A hereto which, on or before the date specified in article xi, section 2, c), accept membership in the Association.

b) Membership shall be open to other members of the Bank at such times and in accordance with such terms as the Association may determine.

Section 2

IniUal subscriptions

a) Upon accepting membership each member shall subscribe funds in the amount assigned to iL Such subscriptions are herein referred to as initial subscriptions.

b) The initial subscription assigned to each original member shall be in the amount set forth opposite its name in schedule A, expressed in terms of United States dollars of the weight and fineness in efect on January 1, 1960.

c) 10 % of the initial subscription of each original member shall be payable in gold or freely convertible currency as follows: SO % within 30 days after the date on which the Association shall begin operations pursuant to article xi, section 4, or on the date on which the original member becomes a member, whichever shall be later; 12,5 % one year after the beginning of operations of the Association; and 12,5 % each year thereafter at annual intervals until the 10 % portion of the initial subscriptions shall have been paid in full.

d) The remaining 90 % of the initial subscription of each original member shall be payable in gold or freely convertible currency in the case of members listed in part t of schedule A and in the currency of the subscribing member in the case of members listed in pan n of schedule A. This 90 % portion of initial subscriptions of original members shall be payable in five equal annua] instalments as follows: the first such instalment within 30 days after the date on which the Association shall begin operations pursuant to article xi, section 4, or on the date on which the original member becomes a member, whichever shall be later, the second instalment one year after the beginning of operations of the Association, and succeeding instalments each year thereafter at annual intervals until the 90 % portion of the initial subscritption shall have been paid in full.

e) The Association shall accept from any member, in place of any part of the member's currency paid in or payable by the member under the preceding subsection d) or under section 2 of article rv and not needed by the Association in its operations, notes or similar obligations issued by the governments of the member or the depository

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