BWBV0004446
Geldig vanaf 05-07-2002
Artikel 16
Overeenkomst tot oprichting van de Afrikaanse Ontwikkelingsbank, gedaan te Khartoem op 4 augustus 1963, zoals gewijzigd bij Resolutie 05-79 aangenomen door de Raad van Bestuur op 17 mei 1979
In making direct loans, the Bank shall furnish the borrower with currencies other than the currency of the member in whose territory the project concerned is to be carried out (the latter currency hereinafter to be called “local currency”), which are required to meet foreign exchange expenditure on that project; provided always that the Bank may, in making direct loans, provide financing to meet local expenditure on the project concerned:
a. Where it can do so by supplying local currency without selling any of its holdings in convertible currencies; or
b. Where in the opinion of the Bank local expenditure on that project is likely to cause undue loss or strain on the balance of payments of the country where that project is to be carried out and the amount of such financing by the Bank does not exceed a reasonable portion of the total local expenditure incurred on that project.
a. Where it can do so by supplying local currency without selling any of its holdings in convertible currencies; or
b. Where in the opinion of the Bank local expenditure on that project is likely to cause undue loss or strain on the balance of payments of the country where that project is to be carried out and the amount of such financing by the Bank does not exceed a reasonable portion of the total local expenditure incurred on that project.
- Citeren als
- Art. 16
- Geldig vanaf
- Status
- Geldend recht
- Identificatie
- BWBV0004446
- Officiële bron
- wetten.overheid.nl