INTERNATIONAL FINANCE CORPORATION

                                    BOARD OF GOVERNORS



                                        Resolution No. 145

                        Membership of the Hungarian People’s Republic


    WHEREAS the Government of the Hungarian People’s Republic has applied for admission to
membership in the International Finance Corporation in accordance with Section 1(b) of Article II
of the Articles of Agreement of the Corporation; and

    WHEREAS, pursuant to Section 17 of the By-Laws of the Corporation, the Board of Directors,
after consultation with representatives of the Government of the Hungarian People’s Republic , has
made recommendations to the Board of Governors regarding the application of said Government;

   NOW, THEREFORE, the Board of Governors hereby

RESOLVES:

   THAT the terms and conditions upon which the Hungarian People’s Republic shall be admitted
to membership in the Corporation shall be as follows:

1. Definitions: As used in this resolution:
   (a) “Corporation� means International Finance Corporation.
   (b) “Articles� means the Articles of Agreement of the Corporation.
   (c) “Dollars� or “$� means United States dollars.
   (d) “Subscription� means the capital stock of the Corporation subscribed by a member.
   (e) “Member� means member of the Corporation.

2. Subscription: By accepting membership in the Corporation, the Hungarian People’s Republic
shall subscribe to 1,364 shares of the capital stock of the Corporation at the par value of $1,000 per
share.

3. Payment of Subscription: Before accepting membership in the Corporation, the Hungarian
People’s Republic shall pay $1,364,000 to the Corporation in full payment of the capital stock
subscribed.

4. Information: Before accepting membership in the Corporation, the Hungarian People’s Republic
shall furnish to the Corporation such information relating to its application for membership as the
Corporation may request.

5. Acceptance of Membership: The Hungarian People’s Republic shall become a member of the
Corporation with a subscription as set forth in paragraph 2 of this resolution, as of the date when
the Hungarian People’s Republic shall have complied with the following requirements:
   (a) made the payment called for by paragraph 3 of this resolution;
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   (b) furnished such information as may have been requested by the Corporation pursuant to
       paragraph 4 of this resolution;
   (c) deposited with the International Bank for Reconstruction and Development an instrument
       stating that it has accepted without reservation in accordance with its law 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
   (d) signed the original Articles held by the International Bank for Reconstruction and
       Development.

6. Limitation on Period for Acceptance of Membership: The Hungarian People’s Republic may
accept membership in the Corporation pursuant to this resolution until December 27, 1985, or such
later date as the Board of Directors may determine.



                                                                    (Adopted on February 15, 1985)