3 DE FEVEREIRO DE 1994

300-(11)

to the account of the Multilateral Investment Fund, for allocation by the Donors Committee pursuant to article 4, section 3.

f) Only nationals or companies from donors, or regional developing countries which are members of the Bank, shall be eligible for procurement from Fund resources, except that developing member countries of the Carabbean Development Bank shall be eligible for procurement from financing provided pursuant to paragraphe c) of this section.

g) The Fund shall not be used to finance any undertaking in the territory of a regional developing member country of (he Bank if that member objects to such finacing.

ARTICLE 4 The Donors Committee

Section 1 Composition

Each donor may participate in and appoint a representative, on the basis of a nomination by its governor of the Bank, to meetings of the Donors Committee.

Section 2

Responsibilities

The Donors Committee shall be responsible for the final approval of all proposals for grants from the Technical Cooperation Facility, the Human Resources Facility and the Small Enterprise Development Facility, and all proposals for loans, equity investments or other financings from the Small Enterprise Investment Fund.

Section 3

Allocation among FadliUes

The Donors Committee may allocate the resources of the Fund at any time to any Facility, including the Small Enterprise Investment Fund, and may decide that a specific percentage of total Fund assets be reserved for a particular Facility, provided that no more than forty per cent of total resources of the Fund may be allocated to any Facility.

Section 4 Meetings

The Donors Committee shall meet at the principal office of the Bank as often as die business of the Fund requires. The secretary of the Bank (serving as secretary of the Committee) or any donor may call a meeting. As necessary the Donors Committee shall determine its organization, rules of operation and procedure. A quorum for any meeting of the Donors Committee shall be a majority of the total number of representatives not less than four-fifths of the total voting power of the donors.

Section 5 Voting

Unless otherwise specified in this Agreement, the Donors Committee shall reach decisions by a three-quarters majori-

ty of the total voting power. The total voting power of each donor shall consist of the sum of its proportional votes and its basic votes. Each donor shall have one proportional vote for each one hundred thousand United States dollars it has contributed in cash or notes (or similar securities) under article 2, section 2, or the equivalent in cash or notes (or similar securities) which it has contributed in freely convertible currencies under article 2, section 2. Each donor shall also have basic votes consisting of such number of votes as results from the equal distribution among all the donors of twenty per cent of the aggregate sum of the basic votes and proportional votes of all the donors.

Section 6

Report

When approved by the Donors Committee the annual information statement submited under article 5, section 2, a), of the Administration Agreement shall be forwarded to the Bank's board of executive directors.

ARTICLE 5 Term of the Agreement

Section 1 Entry into force

This Agreement shall enter into force on the date when at least five prospective donors listed on schedule A, the proposed contributions of which on that schedule total at least 800 000 000 United States dollars, have deposited the instruments referred to in article 6, section 1.

Section 2

Term of this Agreement

This Agreement shall remain in force for a period of ten years after the effective date, and may be renewed for no more than one additional renewel period of five years. Prior to the end of the initial period, the Donors Committee shall consult with the Bank about the advisability of extending the operations of the Fund or any Facility for the renewal period. At that time the Donors Committee, acting by a vote of at least two-thirds of the donors representing not less than three-quarters of the total voting power of the donors, may extend this Agreement or any of the operations of any Facility or Fund for the renewal period or a period shorter than the renewal period.

Section 3

Termination by the Bank or the Donors Committee

This Agreement shall terminate in the event that the Bank suspends or terminates its own operations under article x of the Charter. This Agreement shall also terminate in the event that the Bank terminates the Administration Agreement under article 6, section 3, of that Agreement The Donors Committee may decide to terminate this Agreement or any Facility, or the Small Enterprise Investment Fund, at any time by a vote of at least twothirds of the donors representing not less than three-quarters of the total voting power of the donors.