Artikel 14

1. In its operations, the Bank may provide or facilitate financing for any regional member, political subdivision or any agency thereof or for any institution or undertaking in the territory of any regional member as well as for international or regional agencies or institutions concerned with the development of Africa. Subject to the provisions of this chapter, the Bank may carry out its operations in any of the following ways:
a. By making or participating in direct loans out of: i. Funds corresponding to its unimpaired subscribed paid-up capital and to its reserves and undistributed surplus; or out of
ii. Funds corresponding to special resources; or
i. Funds corresponding to its unimpaired subscribed paid-up capital and to its reserves and undistributed surplus; or out of
ii. Funds corresponding to special resources; or
b. By making or participating in direct loans out of funds borrowed or otherwise acquired by the Bank for inclusion in its ordinary capital resources or in special resources; or
c. By investment of funds referred to in sub-paragraph (a) or (b) of this paragraph in the equity capital of an undertaking or institution for the benefit of one or more regional members; or
d. By guaranteeing, in whole or in part, loans made by others.
The provisions of this Agreement applying to direct loans which the Bank may make pursuant to sub-paragraph a. or b. of the preceding paragraph shall also apply to its participation in any direct loan undertaken pursuant to any of those sub-paragraphs. Equally, the provisions of this Agreement applying to guarantees of loans undertaken by the Bank pursuant to sub-paragraph d. of the preceding paragraph shall apply where the Bank guarantees part of such a loan only.