Agreement Establishing The Bank

2. Special funds accepted by the Bank may be used in any manner and conditions that are consistent with the Purpose and Tasks of the Bank, the other applicable provisions of this agreement, and the agreement or agreements relating to these funds. The third arbitrator has the authority to resolve all procedural issues in any event if the parties do not agree on this issue. If the agreement in paragraph 1 has not been concluded within six months of the closing date of the member of that country or on any other date on which the bank and that country may agree, the purchase price of that country`s share capital is its book value, according to the bank`s accounts. , on the date when the country is no longer a member. This takeover is subject to the following conditions: approval of the conclusion of general cooperation agreements with other international organisations; 1. Each member designates its central bank or any other institution agreed with the Bank as custodian of all the Bank`s assets in its currency and for the Bank`s other assets. 2. The spouses and direct support creditors of these directors, assistant directors, senior executives, employees and experts of the bank who reside in the country where the bank is headquartered have the opportunity to hold a job in that country. The spouses and direct support creditors of these directors, assistant directors, senior executives, employees and experts of the bank who reside in a country where an agency or branch of the bank is located should, as far as possible, provide for a similar possibility in that country, in accordance with national law of that country. The Bank negotiates with the country where the Bank is headquartered and, if necessary, with the other countries concerned, specific arrangements for the implementation of the provisions of this paragraph. to enter into cooperation agreements with public or private organizations or bodies. In the event of disagreement between the Bank and a member who is no longer a member, or between the Bank and a member following the adoption of a decision to terminate the Bank`s activities, this disagreement is referred to an arbitral tribunal of three (3) arbitrators, one by the bank, the other by the member or former member concerned and the third , unless the parties agree otherwise, by the President of the International Court of Justice or by another authority prescribed by the regulations adopted by the Governing Council.