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International Development Association (IDA) Board of Governors resolution ; no. 15 : Membership of Nepal (English)

On May 04,1962 the International Development Association (IDA) Board of Governors adopted resolution number fifteen. It was resolved that the terms and conditions upon which Nepal shall be admitted to membership in the Association shall be as follows: (i) the terms and conditions of the membership of Nepal 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; (ii) Upon accepting membership in the Association, Nepal shall subscribe funds in the amount of 500,000 dollars expressed in terms of United States dollars of the weight and fineness in effect on January 1, 1960; (iii) before accepting membership in the Association, Nepal shall make all payments on its initial subscription which would have been payable on or before the date of acceptance had it become a member of the Association as an original member listed in Part II of Schedule A of the Articles; and (iv) Nepal may accept membership in the Association pursuant to this Resolution until November 5, 1962, provided, however, that if extraordinary circumstances are deemed by the Executive Directors to warrant an extension of the period during which it may accept membership pursuant to this Resolution, the Executive Directors may extend such period.

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International Development Association (IDA) Board of Governors resolution ; no. 15 : Membership of Nepal (English). IDA Board of Governors resolution,no. 15 Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/462531476711277962/International-Development-Association-IDA-Board-of-Governors-resolution-no-15-Membership-of-Nepal