300-(8)

II SÉRIE-A —NÚMERO 20

ANEXO A

Quotas de contribuição doa doadores ao Fundo Multilateral de Investimentos

"VER DIÁRIO ORIGINAL"

(') No caso de um compromisso feito numa moeda que nSo seja dólares dos Estados Unidos da America, convertido a taxa de cambio representativa do FMI estabelecida mediante o calculo da média diária dessa taxa durante o semestre encerrado em 30 de Novembro de 1991.

AGREEMENT ESTABLISHING THE MULTILATERAL INVESTMENT FUND

Whereas, many leaders in Latin America and the Caribbean have embraced market-based economic reform, recognized the need to reduce external debit burdens to manageable levels and recognized the need for liberalized investment regimes;

Whereas, the need to attract private capital is critical to the economic development of the countries of Latin America and the Caribbean, and investment reform is needed to stimulate foreign and domestic investment in these countries;

Whereas, the prospective donor members of the Inter--American Development Bank listed in schedule A of this Agreement (each considered a «donor» on adherence to this Agreement and so referred to hereinafter) have agreed to establish a multilateral fund in the Bank as a transitional measure to assist in investiment reform;

Whereas, such a multilateral fund can provide critica resoureces to supllement and complement the activities of the Inter-American Development Bank, the Inter-American Investiment Corporation and other multilateral development banks, to provide support for their policies and their initiatives to promote investment reform and stimulate in particular the activities of micro-enterprises;

Whereas, the Inter-American Development Bank (hereinafter referred to as the «Bank»), to fulfill its purposes and in pursuit of its objectives, has agreed to administer such a fund, and on 11 February 1992, has signed the Agreement for the Administration of the Multilateral Investment Fund (hereinafter referred to as the «Administration Agreement»);

Therefore, the donors agree to establish the Multilateral Investment Fund (hereinafter referred to as the «Fund») as follows:

ARTICLE 1 General purposes

The general purposes of the Fund are to: '

a) Encourage the development and implementation of investment reforms and facilitate significantly increased levels of private investment, both foreign and domestic, thereby accelerating the economic and social growth and development in the regional developing member countries of the Bank, and the developing member countries of the Caribbean Development Bank;

b) Encourage those members in their efforts to implement development strategies based on sound economic policies which encourage increased private investment and an expanding private sector, as those policies will increase employment opportunities and foster small businesses and micro-enterprises, and thus help alleviate poverty, improve, income distribution, and strengthen the role of women in development;

c) Stimulate micro-enterprises, small businesses and other enterpreneurial activities in those members;

d) Provide financing to help enable those members to: 0 identify and implement policy reforms which will increase investment; if) bear certain of the costs associated with investment reforms and an expanding private sector, and Hi) broaden participation of smaller enterpreneurs in their economies; and

e) Promote in the full range of its operations environmentally sound and sustainable economic development.

ARTICLE 2 Contributions to the Fund

Section 1 Instruments of contribution

a) As soon as reasonably possible after depositing the instrument indicating that it has ratified, accepted, or approved this Agreement under article 6, section 1 (hereinafter referred to as an instrument of acceptance»), but no later than sixty days alter depositing that instrument, each donor shall deposit with the Bank an instrument of contribution in which it agrees to pay to the Fund the amount set forth for it in schedule A in five equal annual installments (such contribution hereinafter referred to as an «unqualified contribution*). Donors which have deposited an instrument of contribution prior to the date this Agreement enters into force pursuant to article 5, section I (hereinafter referred to as the effective date*) may postpone payment of the first installment until the 30th day after that date. Donors depositing an instrument of contribution on or after the effective date shall pay their first installment within 30 days after such deposit, but no later than the first anniversary of the effective date or such later date as determined by the committee established under article 4 (hereinafter referred to as the «Donors Committee»). Donors shall pay each subsequent installment before or on the corresponding anniversary of the first installment

b) Notwithstanding the provisions of paragraph a) of this section regarding unqualified contributions, as an exceptional case, each donor may deposit an instrument of contribution