Multilateral Investment Guarantee Agency (MIGA) Council of Governors resolution ; no. 14 : membership of the People's Republic of Angola

MULTILATERAL INVESTMENT GUARANTEE AGENCY COUNCIL OF GOVERNORS Resolution No. 14 Membership of the People’s Republic of Angola WHEREAS the Government of the People’s Republic of Angola (“Angola”), has applied for admission to membership in the Multilateral Investment Guarantee Agency (“the Agency”); and WHEREAS, pursuant to Section 17(c) of the Agency’s By-Laws, the Board of Directors has made recommendations to the Council of Governors regarding this application; NOW, THEREFORE, the Council of Governors hereby RESOLVES that: 1. Before becoming a party to the Convention Establishing the Multilateral Investment Guarantee Agency (“the Convention”), Angola shall accept membership in and become a member of the International Bank for Reconstruction and Development. 2. By depositing its instrument of ratification, acceptance or approval of the Convention, Angola shall: (i) subscribe at par to 187 shares of the capital stock of the Agency; and (ii) pay in full to the Agency the paid-in portions of the subscription price of such shares in accordance with Articles 7 and 8 of the Convention. 3. With effect from the date of the fulfillment of the conditions set forth in paragraph (2) above, Angola shall be admitted to membership and shall be classified as a Category Two and developing member country for the purposes of the Convention. (Adopted on September 18, 1989)