Agreement Establishing The Adb

The Bank has an international personality in its own right to fulfill its objective and the tasks entrusted to it. To this end, it can enter into agreements with members, third countries and other international organizations. To this end, the Bank enjoys, on the territory of each member, the status, immunities, immunities and privileges covered in this chapter. 2. authorizes the conclusion of general cooperation agreements with the authorities of African countries that have not yet achieved independent status or general cooperation agreements with African governments that have not yet become members of the Bank, as well as with other governments and other international organizations; 14.3 The Government will make appropriate changes to Australian laws as soon as possible after the date of signing this agreement to implement the provisions of this convention, pending the conclusion of an international agreement between Australia and the ADB to establish a resident mission. Explicitly state the currency in which all payments to the Bank are made under the contract in question. However, at the borrower`s choice, these payments can still be made in convertible currency or, subject to the bank`s agreement, in another currency; and loans under this section to the Bank are paid by the Bank to the loan member at an interest rate equal to the average interest rate paid by the Bank for its special fund borrowings for one year prior to the conclusion of the loan agreement. This rate cannot exceed a maximum rate set from time to time by the Governing Council. In the event of a dispute between the bank and a former member or between the bank and a member after the bank`s activities have ceased, this dispute is referred to an arbitration tribunal of three arbitrators.

Each party appoints an arbitrator and the two arbitrators so appointed appoint the third, who is the president.

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