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International Development Association (IDA) Board of Governors resolution ; no. 148 : Membership of the People’s Republic of Angola (English)

On August 11, 1989, the International Development Association (IDA) Board of Governors adopted resolution number one hundred and forty seven. It was resolved that, the terms and conditions of the membership of Angola 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; Upon accepting membership in the Association, Angola shall subscribe funds in the amount of 6,310,000 dollar 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, 7,612,069 dollar, and shall pay the latter amount to the Association as follows: (a) ten percent either in gold or in freely convertible currency, and (b) ninety percent in the currency of Angola. As of the date that Angola will become a member of the Association, 1,762 votes shall be allocated to Angola in respect to such subscriptions, consisting of 1,262 subscription votes and 500 membership votes. Angola 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 Angola shall have complied with the following requirements:(a)become a member of the International Bank for Reconstruction and Development;(b)made the payments called for by paragraph 2 of this resolution;(c)deposited with the International Bank for Reconstruction and Development an instrument stating that it has accepted 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 in the archives of the International Bank for Reconstruction and Development.

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International Development Association (IDA) Board of Governors resolution ; no. 148 : Membership of the People’s Republic of Angola (English). IDA Board of Governors resolution,no. 148 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/164271476180093245/International-Development-Association-IDA-Board-of-Governors-resolution-no-148-Membership-of-the-People-s-Republic-of-Angola