INTERNATIONAL DEVELOPMENT ASSOCIATION

                                      BOARD OF GOVERNORS



                                          Resolution No. 232

                                       Membership of Romania


    WHEREAS Romania has applied for membership in the International Development Association in
accordance with Section 1(b) of Article II of the Articles of Agreement of the Association;

    WHEREAS, pursuant to Section 9 of the By-Laws of the Association, the Executive Directors,
after consultation with representatives of Romania, have made recommendations to the Board of
Governors regarding this application;

    NOW, THEREFORE, the Board of Governors hereby

    RESOLVES:

   THAT the terms and conditions upon which Romania shall be admitted to membership in the
Association shall be as follows:

1. Definition: As used in this Resolution:
   (a) “Association� means International Development Association.
   (b) “Articles� means the Articles of Agreement of the Association.
   (c) “Dollars� or “$� means dollars in currency of the United States of America.

2. Initial Subscription:
   (a) The terms and conditions of the membership of Romania in the Association other than those
        specifically provided for in this Resolution shall be those set forth in the Articles with respect
        to the membership of original members listed in Part II of Schedule A thereof (including, but
        not by way of limitation, the terms and conditions relating to subscriptions, payments on
        subscription, usability of currencies and voting rights).
   (b) Upon accepting membership in the Association, Romania shall subscribe funds in the amount
        of $ 3,390,000 expressed in terms of United States Dollars of the weight and fineness in effect
        on January 1, 1960, that is to say, pursuant to the decision of the Executive Directors of the
        Association of June 30, 1986 on the valuation of initial subscriptions, $ 4,089,527 in current
        United States Dollars, and shall pay the latter amount to the Association as follows: (a) ten
        percent either in gold or in a freely convertible currency, and (b) ninety percent in the currency
        of Romania. As of the date Romania will become a member of the Association, 1,178 votes
        shall be allocated to Romania in respect of such subscription, consisting of 678 subscription
        votes and 500 membership votes.

3. Effective Date of Membership: Romania shall become a member of the Association with a
subscription as set forth in paragraph 2(b) of this Resolution as of the date when Romania shall have
complied with the following requirements:
    (a) made the payments called for by paragraph 2 of this Resolution;
                                                                                 IDA Resolution No. 232
                                                                                             Page 2 of 2


    (b) deposited with the International Bank for Reconstruction and Development an instrument
        stating that it has accepted in accordance with its laws the Articles and all the terms and
        conditions prescribed in this Resolution, and that it has taken all steps necessary to enable it to
        carry out all its obligations under the Articles and this Resolution; and
    (c) signed the original Articles held in the archives of the International Bank for Reconstruction
        and Development.

4. Limitation on Period for Fulfillment of Requirements of Membership: Romania may fulfill the
requirements for membership in the Association pursuant to this Resolution until December 31, 2013,
or such later date as the Executive Directors of the Association may determine.

5. Additional Subscriptions: Upon or after acceptance of membership, Romania shall also be
authorized to make additional subscriptions in the amount of $ 1,362,924, comprising subscriptions
corresponding to the Third through Sixteenth Replenishments, and to the Multilateral Debt Relief
Initiative which shall carry 96,806 votes, calculated on the basis of 49,806 subscription votes and
47,000 membership votes, and which shall be subject to the following terms and conditions:
     (a) Payment of such additional subscriptions shall be made in the currency of Romania within
         thirty days after Romania notifies the Association of its intention to make such additional
         subscriptions.
     (b) The rights and obligations of the Association and Romania with regard to such additional
         subscriptions shall be the same (except as otherwise provided in this Resolution) as those
         which govern the ninety percent portion of the initial subscriptions of original members
         payable under Article II, Section 2(d) of the Articles by members listed in Part II of Schedule
         A of the Articles, provided, however, that the provisions of Article IV, Section 2 of the
         Articles shall not be applicable to such subscriptions.



                                                                       (Adopted on February 14, 2013)