Diario Oficial de la República del Uruguay del 15 de enero de 2020 (contenido completo)
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Documen tos
Nº 30.358 - enero 15 de 2020
DiarioOficial |
Los documentos publicados en esta edición, fueron recibidos los días 30 de diciembre, 10 y 13 de enero y publicados tal como fueron redactados por el órgano emisor.
PODER EJECUTIVO
MINISTERIO DE ECONOMÍA Y FINANZAS
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Apruébase el proyecto de ley en el que se incorpora a la República
Oriental del Uruguay al Banco Asiático de Inversión en Infraestructura
(AIIB).
(5.151*R)
PODER LEGISLATIVO
El Senado y la Cámara de Representantes de la República Oriental
del Uruguay, reunidos en Asamblea General,
DECRETAN
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Artículo 1º.- Apruébase la incorporación de la República Oriental
del Uruguay al Banco Asiático de Inversión en Infraestructura (AlIB),
de conformidad con el Convenio Constitutivo de la referida institución,
rmado el 29 de junio de 2015, cuyo texto original se adjunta como
Anexo de la presente ley y forma parte de la misma.
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Artículo 2º.- Las obligaciones que demande la presente ley serán
atendidas con recursos propios del Banco Central del Uruguay y
formarán parte de su capital.
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Artículo 3º.- El Banco Central del Uruguay realizará las gestiones
pertinentes y las operaciones necesarias por cuenta y orden del
Estado, para integrar el capital del Banco Asiático de Inversión en
Infraestructura (AIIB).
Sala de Sesiones de la Cámara de Representantes, en Montevideo,
a 17 días de diciembre de 2019.
MARÍA CECILIA BOTTINO, Presidenta; VIRGINIA ORTIZ,
Secretaria. Asian Infrastructure Investment Bank
Articles of Agreement
The countries on whose behalf the present Agreement is signed
agree as follows:
CONSIDERING the importance of regional cooperation to
sustain growth and promote economic and social development of the
economies in Asia and thereby contribute to regional resilience against
potential nancial crises and other external shocks in the context of
globalization;
ACKNOWLEDGING the significance of infrastructure
development in expanding regional connectivity and improving
regional integration, thereby promoting economic growth and
sustaining social development for the people in Asia, and contributing
to global economic dynamism;
REALIZING that the considerable long-term need for nancing
infrastructure development in Asia will be met more adequately by
a partnership among existing multilateral development banks and
the Asian Infrastructure Investment Bank (hereinafter referred to as
the “Bank”);
CONVINCED that the establishment of the Bank as a multilateral
nancial institution focused on infrastructure development will help
to mobilize much needed additional resources from inside and outside
Asia and to remove the nancing bolenecks faced by the individual
economies in Asia, and will complement the existing multilateral
development banks, to promote sustained and stable growth in Asia;
HAVE AGREED to establish the Bank, which shall operate in
accordance with the following:
Chapter I
PURPOSE, FUNCTIONS AND MEMBERSHIP
Article 1 Purpose
1. The purpose of the Bank shall be to: (i) foster sustainable
economic development, create wealth and improve infrastructure
connectivity in Asia by investing in infrastructure and other productive
sectors; and (ii) promote regional cooperation and partnership in
addressing development challenges by working in close collaboration
with other multilateral and bilateral development institutions.
2. Wherever used in this Agreement, references to “Asia” and
“region” shall include the geographical regions and composition
classied as Asia and Oceania by the United Nations, except as
otherwise decided by the Board of Governors.
Article 2 Functions
To implement its purpose, the Bank shall have the following
functions:
(i) to promote investment in the region of public and private
capital for development purposes, in particular for
development of infrastructure and other productive sectors;
(ii) to utilize the resources at its disposal for nancing such
development in the region, including those projects and
programs which will contribute most effectively to the
harmonious economic growth of the region as a whole and
having special regard to the needs of less developed members
in the region;
(iii) to encourage private investment in projects, enterprises
and activities contributing to economic development in the
region, in particular in infrastructure and other productive
sectors, and to supplement private investment when private
capital is not available on reasonable terms and conditions;
and
(iv) to undertake such other activities and provide such other
services as may further these functions.
Article 3 Membership
1. Membership in the Bank shall be open to members of the
International Bank for Reconstruction and Development or the Asian
Development Bank.
(a) Regional members shall be those members listed in Part A of
Schedule A and other members included in the Asia region in
accordance with paragraph 2 of Article 1. All other members
shall be non-regional members.
(b) Founding Members shall be those members listed in Schedule
A which, on or before the date specied in Article 57, shall
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have signed this Agreement and shall have fullled all other
conditions of membership before the nal date specied
under paragraph 1 of Article 58.
2. Members of the International Bank for Reconstruction and
Development or the Asian Development Bank which do not become
members in accordance with Article 58 may be admied, under such
terms and conditions as the Bank shall determine, to membership
in the Bank by a Special Majority vote of the Board of Governors as
provided in Article 28.
3. In the case of an applicant which is not sovereign or not
responsible for the conduct of its international relations, application for
membership in the Bank shall be presented or agreed by the member
of the Bank responsible for its international relations.
CHAPTER II
CAPITAL
Article 4 Authorized Capital
1. The authorized capital stock of the Bank shall be one
hundred billion United States dollars ($ 100,000,000,000), divided into
one million (1,000,000) shares having a par value of 100,000 dollars
($ 100,000) each, which shall be available for subscription only by
members in accordance with the provisions of Article 5.
2. The original authorized capital stock shall be divided into
paid-in shares and callable shares. Shares having an aggregate par
value of twenty billion dollars ($ 20,000,000,000) shall be paid-in shares,
and shares having an aggregate par value of eighty billion dollars ($
80,000,000,000) shall be callable.
3. The authorized capital stock of the Bank may be increased
by the Board of Governors by a Super Majority vote as provided in
Article 28, at such time and under such terms and conditions as it may
deem advisable, including the proportion between paid-in and callable
shares.
4. The term “dollar” and the symbol “$” wherever used in
this Agreement shall be understood as being the ocial currency of
payment of the United States of America.
Article 5 Subscription of Shares
1. Each member shall subscribe to shares of the capital stock
of the Bank. Each subscription to the original authorized capital stock
shall be for paid-in shares and callable shares in the proportion two (2)
to eight (8). The initial number of shares available to be subscribed by
countries which become members in accordance with Article 58 shall
be that set forth in Schedule A.
2. The initial number of shares to be subscribed by countries
which are admied to membership in accordance with paragraph 2
of Article 3 shall be determined by the Board of Governors; provided,
however, that no such subscription shall be authorized which would
have the effect of reducing the percentage of capital stock held
by regional members below seventy-ve (75) per cent of the total
subscribed capital stock, unless otherwise agreed by the Board of
Governors by a Super Majority vote as provided in Article 28.
3. The Board of Governors may, at the request of a member,
increase the subscription of such member on such terms and conditions
as the Board may determine by a Super Majority vote as provided in
Article 28; provided, however, that no such increase in the subscription
of any member shall be authorized which would have the eect of
reducing the percentage of capital stock held by regional members
below seventy-ve (75) per cent of the total subscribed capital stock,
unless otherwise agreed by the Board of Governors by a Super Majority
vote as provided in Article 28.
4. The Board of Governors shall at intervals of not more than
ve (5) years review the capital stock of the Bank. In case of an increase
in the authorized capital stock, each member shall have a reasonable
opportunity to subscribe, under such terms and conditions as the Board
of Governors shall determine, to a proportion of the increase of stock
equivalent to the proportion which its stock theretofore subscribed
bears to the total subscribed capital stock immediately prior to such
increase. No member shall be obligated to subscribe to any part of an
increase of capital stock.
Article 6 Payment of Subscriptions
1. Payment of the amount initially subscribed by each Signatory
to this Agreement which becomes a member in accordance with Article
58 to the paid-in capital stock of the Bank shall be made in ve (5)
installments, of twenty (20) per cent each of such amount, except as
provided in paragraph 5 of this Article. The rst installment shall be
paid by each member within thirty (30) days after entry into force of
this Agreement, or on or before the date of deposit on its behalf of
its instrument of ratication, acceptance or approval in accordance
with paragraph 1 of Article 58, whichever is later. The second
installment shall become due one (1) year from the entry into force
of this Agreement. The remaining three (3) installments shall become
due successively one (1) year from the date on which the preceding
installment becomes due.
2. Each installment of the payment of initial subscriptions
to the original paid-in capital stock shall be paid in dollars or other
convertible currency, except as provided in paragraph 5 of this Article.
The Bank may at any time convert such payments into dollars. All
rights, including voting rights, acquired in respect of paid-in and
associated callable shares for which such payments are due but have
not been received shall be suspended until full payment is received
by the Bank.
3. Payment of the amount subscribed to the callable capital
stock of the Bank shall be subject to call only as and when required
by the Bank to meet its liabilities. In the event of such a call, payment
may be made at the option of the member in dollars or in the currency
required to discharge the obligations of the Bank for the purpose of
which the call is made. Calls on unpaid subscriptions shall be uniform
in percentage on all callable shares.
4. The Bank shall determine the place for any payment under
this Article, provided that, until the inaugural meeting of the Board of
Governors, the payment of the rst installment referred to in paragraph
1 of this Article shall be made to the Government of the People’s
Republic of China, as Trustee for the Bank.
5. A member considered as a less developed country for
purposes of this paragraph may pay its subscription under paragraphs
1 and 2 of this Article, as an alternative, either:
(a) entirely in dollars or other convertible currency in up to ten
(10) installments, with each such installment equal to ten (10)
percent of the total amount, the rst and second installments
due as provided in paragraph 1, and the third through tenth
installments due on the second and subsequent anniversary
dates of the entry into force of this Agreement; or
(b) with a portion in dollars or other convertible currency and
a portion of up to fty (50) per cent of each installment
in the currency of the member, following the schedule of
installments provided in paragraph 1 of this Article. The
following provisions shall apply to payments under this
sub-paragraph (b):
(i) The member shall advise the Bank at the time of
subscription under paragraph 1 of this Article of the
proportion of payments to be made in its own currency.
(ii) Each payment of a member in its own currency under
this paragraph 5 shall be in such amount as the Bank
determines to be equivalent to the full value in terms of
dollars of the portion of the subscription being paid. The
initial payment shall be in such amount as the member
considers appropriate hereunder but shall be subject to
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such adjustment, to be eected within ninety (90) days
of the date on which such payment was due, as the Bank
shall determine to be necessary to constitute the full dollar
equivalent of such payment.
(iii) Whenever in the opinion of the Bank, the foreign
exchange value of a member’s currency has depreciated
to a signicant extent, that member shall pay to the
Bank within a reasonable time an additional amount of
its currency required to maintain the value of all such
currency held by the Bank on account of its subscription.
(iv) Whenever in the opinion of the Bank, the foreign
exchange value of a member’s currency has appreciated
to a signicant extent, the Bank shall pay to that member
within a reasonable time an amount of that currency
required to adjust the value of all such currency held by
the Bank on account of its subscription.
(v) The Bank may waive its rights to payment under sub-
paragraph (iii) and the member may waive its rights to
payment under sub-paragraph (iv).
6. The Bank shall accept from any member paying its
subscription under sub-paragraph 5 (b) of this Article promissory notes
or other obligations issued by the Government of the member, or by
the depository designated by such member, in lieu of the amount to
be paid in the currency of the member, provided such amount is not
required by the Bank for the conduct of its operations. Such notes or
obligations shall be non-negotiable, non-interest-bearing, and payable
to the Bank at par value upon demand.
Article 7 Terms of Shares
1. Shares of stock initially subscribed by members shall be
issued at par. Other shares shall be issued at par unless the Board of
Governors by a Special Majority vote as provided in Article 28 decides
in special circumstances to issue them on other terms.
2. Shares of stock shall not be pledged or encumbered in any
manner whatsoever, and they shall be transferable only to the Bank.
3. The liability of the members on shares shall be limited to the
unpaid portion of their issue price.
4. No member shall be liable, by reason of its membership, for
obligations of the Bank.
Article 8 Ordinary Resources
As used in this Agreement, the term “ordinary resources” of the
Bank shall include the following:
(i) authorized capital stock of the Bank, including both paid-
in and callable shares, subscribed pursuant to Article 5;
(ii) funds raised by the Bank by virtue of powers conferred
by paragraph 1 of Article 16, to which the commitment to
calls provided for in paragraph 3 of Article 6 is applicable;
(iii) funds received in repayment of loans or guarantees made
with the resources indicated in sub-paragraphs (i) and
(ii) of this Article or as returns on equity investments and
other types of nancing approved under sub-paragraph
2 (vi) of Article 11 made with such resources;
(iv) income derived from loans made from the aforementioned
funds or from guarantees to which the commitment to
calls set forth in paragraph 3 of Article 6 is applicable;
and
(v) any other funds or income received by the Bank which
do not form part of its Special Funds resources referred
to in Article 17 of this Agreement.
CHAPTER III
OPERATIONS OF THE BANK
Article 9 Use of Resources
The resources and facilities of the Bank shall be used exclusively to
implement the purpose and functions set forth, respectively, in Articles
1 and 2, and in accordance with sound banking principles.
Article 10 Ordinary and Special Operations
1. The operations of the Bank shall consist of:
(i) ordinary operations nanced from the ordinary resources
of the Bank, referred to in Article 8; and
(ii) special operations financed from the Special Funds
resources referred to in Article 17.
The two types of operations may separately nance elements of
the same project or program.
2. The ordinary resources and the Special Funds resources of
the Bank shall at all times and in all respects be held, used, commied,
invested or otherwise disposed of entirely separately from each other.
The nancial statements of the Bank shall show the ordinary operations
and special operations separately.
3. The ordinary resources of the Bank shall, under no
circumstances, be charged with, or used to discharge, losses or
liabilities arising out of special operations or other activities for which
Special Funds resources were originally used or commied.
4. Expenses appertaining directly to ordinary operations shall be
charged to the ordinary resources of the Bank. Expenses appertaining
directly to special operations shall be charged to the Special Funds
resources. Any other expenses shall be charged as the Bank shall
determine.
Article 11 Recipients and Methods of Operation
1. (a) The Bank may provide or facilitate nancing to
any member, or any agency, instrumentality or political subdivision
thereof, or any entity or enterprise operating in the territory of a
member, as well as to international or regional agencies or entities
concerned with economic development of the region.
(b) The Bank may, in special circumstances, provide
assistance to a recipient not listed in sub-paragraph (a) above only
if the Board of Governors, by a Super Majority vote as provided in
Article 28: (i) shall have determined that such assistance is designed
to serve the purpose and come within the functions of the Bank and is
in the interest of the Bank’s membership; and (ii) shall have specied
the types of assistance under paragraph 2 of this Article that may be
provided to such recipient.
2. The Bank may carry out its operations in any of the following
ways:
(i) by making, co-nancing or participating in direct loans;
(ii) by investment of funds in the equity capital of an
institution or enterprise;
(iii) by guaranteeing, whether as primary or secondary
obligor, in whole or in part, loans for economic
development;
(iv) by deploying Special Funds resources in accordance with
the agreements determining their use;
(v) by providing technical assistance in accordance with
Article 15; or
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