2009 03 Agreement Establishing the Iic Eng

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INTER-AMERICAN

INVESTMENT

CORPORATION

AGREEMENTESTABLISHING

THE INTER - AMERICANINVESTMENT CORPORATION





AGREEMENT ESTABLISHING

THE INTER-AMERICAN INVESTMENT CORPORATION

The Agreement Establishing the Inter-American Investment Corporation became effec-tive March 23, 1986. The text set forth herein is a true copy of the Agreement asamended by resolutions effective October 3, 1995, July 4, 2001 and June 12, 2002.

Washington, D.C.February 2009 reprint





Table of Contents*

I. PURPOSE AND FUNCTIONS1. Purpose . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1

2. Functions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13. Policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2

II. MEMBERS AND CAPITAL1. Members . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22. Resources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23. Subscriptions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34. Restriction on Transfers and Pledge of Shares . . . . . . . . . . . . . . . . . . .45. Preferential Subscription Right . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46. Limitation on Liability . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4

III. OPERATIONS1. Operating Procedures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5

2. Other Forms of Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .63. Operating Principles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .64. Limitations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .75. Protection of Interests . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .76. Applicability of Certain Foreign Exchange Restrictions . . . . . . . . . . . . .77. Other Powers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .78. Political Activity Prohibited . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8

IV. ORGANIZATION AND MANAGEMENT1. Structure of the Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .82. Board of Governors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .83. Voting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .94. Board of Executive Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10

5. Basic Organization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .116. Executive Committee of the Board of Executive Directors . . . . . . . . .117. Chairman, General Manager and Officers . . . . . . . . . . . . . . . . . . . . . . . . .128. Relations with the Bank . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .139. Publication of Annual Reports and Circulation of Reports . . . . . . . . .14

10. Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14

V. WITHDRAWAL AND SUSPENSION OF MEMBERS1. Right of Withdrawal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .142. Suspension of Membership . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .143. Terms of Withdrawal from Membership . . . . . . . . . . . . . . . . . . . . . .15

VI. SUSPENSION AND TERMINATION OF OPERATIONS

1. Suspension of Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .162. Termination of Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .163. Liability of Members and Payment of Debts . . . . . . . . . . . . . . . . . . .164. Distribution of Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16

* Secretary’s note: This Table of Contents is not part of the Agreement but is included for convenience.



VII. JURIDICAL PERSONALITY, IMMUNITIES, EXEMPTIONS AND PRIVILEGES1. Scope . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 172. Juridical Personality. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 173. Judicial Proceedings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 174. Immunity of Assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 185. Inviolability of Archives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 186. Freedom of Assets from Restrictions . . . . . . . . . . . . . . . . . . . . . . . . . 187. Privilege for Communications. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 188. Personal Immunities and Privileges. . . . . . . . . . . . . . . . . . . . . . . . . . 189. Immunities from Taxation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18

10. Implementation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1911. Waiver . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

VIII. AMENDMENTS1. Amendments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

IX. INTERPRETATION AND ARBITRATION

1. Interpretation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 202. Arbitration. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

X. GENERAL PROVISIONS1. Headquarters of the Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . 212. Relations with Other Organizations . . . . . . . . . . . . . . . . . . . . . . . . . 213. Channels of Communication . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21

XI. FINAL PROVISIONS1. Signature and Acceptance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 222. Entry into Force . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 223. Commencement of Operations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23

Annex A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24Addendum A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25

















































ANNEX A

SUBSCRIPTIONS OF THE SHARES IN THE CORPORATION'S AUTHORIZED CAPITAL STOCK(Shares of US$10,000 each)

Number of paid-in e g at n e c r e P s e r ah s l at i p ac s e i r t n u o C

Regional developing countries 636.11723,2anitnegrA 1

636.11723,2lizarB 1

094.7894,1ocixeM 2

V 842,1aleuzene 6.2383

000.73004,7latotbuS

54.3096elihC54.3096aibmoloC

024ureP 2.10

00.9008,1latotbuS

512.034samahaB051.003sodabraB539.0781aiviloB074.049aciRatsoC036.0621cilbupeRnacinimoD036.0621rodaucE074.049rodavlaSlE036.0621alametauG081.063anayuG074.049itiaH074.049sarudnoH036.0621aciama J074.049augaraciN074.049amanaP074.049yaugaraP

T 074.049ogaboTanddadinir842yaugurU 1.240

000.9008,1latotbuS

T 000.55000,11lato

05.52001,5aciremAf osetatSdetinU

Other Countries

05.0001airtsuA31.3626ecnarF31.3626f o.peR.deF,ynamreG52.005learsI31.3626ylatI31.3626napa J55.1013sdnalrehteN31.3626niapS55.1013dnalreztiwS

009,3latotbuS 19.50

00.001000,02latoTdnarG

1 The representatives of Argentina and Brazil stated that their participation in the capital of the Corporation should not only match their shares in the capital of the Bank, but also maintain their relative shares in the total amount contributed by the regional developing countries in the capital of the Bank.

2The Mexican delegation makes the subscription listed above in order to help eliminate the oversubscription that has prevented the Inter-American InvestmentCorporation from coming into operation. Nevertheless, it wishes to put on record the desire of Mexico to achieve greater share participation in these multilateralorganizations, to more adequately reflect through a system of objective indicators its size in terms of economy, population and requirements for financial supportfor its development process.

3 Venezuela ratifies that it has decided to subscribe 1,248 shares of the Inter-American Investment Corporation, which gives it a participation of 6.238% in itscapital, to enable the Corporation to begin operating as soon as possible. However, Venezuela states for the record that it has not abandoned its desire toachieve a greater share participation in the future.

24

Countries Percentage



25

Argentina

Austria

Bahamas

Barbados

Belgium

Belize

Bolivia

Brazil

Chile

Colombia

Costa Rica

Denmark

Dominican Republic

EcuadorEl Salvador

Finland

France

Germany

Guatemala

Guyana

Haiti

Honduras

Israel

Italy

Jamaica

Japan

Korea, Republic of Mexico

Netherlands

Nicaragua

Norway

Panama

Paraguay

Peru

Portugal

Spain

Suriname

Sweden

Switzerland

Trinidad and Tobago

United States

Uruguay

Venezuela

Inter-American Investment CorporationMember Countries as of February 1, 2009

Addendum A*

* Secretary’s note: This Addendum is not part of the Agreement but is included forreference purposes only.

People’s Republic of China











INTER-AMERICAN INVESTMENT CORPORATION1350 New York Avenue, N.W.

Washington, DC 20577United States of America

www.iic.int

Documents

2009 03 Agreement Establishing the Iic Eng