The Inter-American Development Bank (Seventh General Increase) Order 1990

Explanatory Note

(This note is not part of the Order)

This Order provides for the payment on behalf of the Government of the United Kingdom to the Inter-American Development Bank of a subscription to the increased authorised capital stock of the Bank not exceeding US$ 254,779,692 and for the payment of an additional contribution to the Fund for Special Operations of the Bank of a sum equivalent to US$ 6,901,000, pursuant to arrangements made with the Bank in accordance with a Resolution adopted by the Board of Governors of the Bank on 12th May 1989; and for payments arising from the allocation of resources from the Fund to an Intermediate Financing Facility Account. The Order also provides for payments to maintain the value of the subscription to the increased authorised capital stock and for the redemption of non-interest-bearing and non-negotiable notes issued by the Secretary of State in payment of the subscription and additional contribution. The Order further provides that any sums which may be received by the Government of the United Kingdom in pursuance of the arrangements shall be paid into the Consolidated Fund. The provisions of Resolution AG—5/89 may be obtained by application to the Overseas Development Administration, Eland House, Stag Place, London SW1E 5DH.