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World Bank: Draft Convention Establishing the Multilateral Investment Guarantee Agency

Published online by Cambridge University Press:  04 April 2017

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Type
Treaties and Agreements
Information
International Legal Materials , Volume 24 , Issue 3 , May 1985 , pp. 688 - 715
Copyright
Copyright © American Society of International Law 1985

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References

* [The draft of March 8, 1985, has been reproduced from the text provided by the World Bank. The text begins on I.L.M. page 692.]

* [The Introductory Note was prepared for International Legal Materials by Jürgen Voss, Counsel, The World Bank. ]

* The Schedule will indicate which of these countries shall be “developing member countries” for the purpose of this Convention.

1 This system ties voting rights to capital subscriptions and prevails in most international financial institutions. The Articles of Agreement of the Bank, for example, accord to each member country 250 basic votes as well as one additional vote per share held in the Bank's capital stock (worth $100,000).

2 This system applies to most international commodity agreements where an equal number of votes is allocated to the groups of countries as defined by their interest in the activities of the institution. For example, the International Coffee, Cocoa and Jute Agreements distinguish between member countries which are primarily exporters of the commodity concerned and those which are primarily importers; each group is allotted 1,000 votes which are then divided among the members of the group under various keys.