International Bank for Reconstruction and Development (IBRD) Board of Governors resolution ; no. 12 : increase in capital subscription of France

 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT BOARD OF GOVERNORS Resolution No. 12 Increase in Capital Subscription of France WHEREAS, the Chairman of the Board of Governors of the Bank has received from the Governor for France a letter dated September 30, 1946, which reads as follows: “I have the honor to request that you submit to the present meeting of the Board of Governors an application of the French Government for the revision of the subscription of France in the capital stock of the International Bank for Reconstruction and Development. “This application is in connection with the one forwarded on September 6, 1946, by the French Government for the increase of the quota of France in the International Monetary Fund, copy of which is attached hereto. “It is the intention of the French Government to share the entire responsibility it is faced with as a member of the International Bank for Reconstruction and Development. “Consequently, the French Government agrees in advance to increase its subscription in the Bank to the same amount as will be retained for the quota in the Fund. ‘‘Moreover, I am ready to furnish the Board of Governors of the International Bank with all data necessary to justify both requests of my Government as mentioned above.