International Finance Corporation (IFC) Board of Governors resolution ; no. 222 : increase of subscription by Mexico to the capital of the corporation

 INTERNATIONAL FINANCE CORPORATION BOARD OF GOVERNORS Resolution No. 222 Increase of Subscription by Mexico to the Capital of the Corporation WHEREAS by IFC Resolution No. 205 (Increase of Subscription by Mexico to the Capital of the Corporation) adopted by the Board of Governors on January 18, 1994, Mexico was authorized to increase its subscription to IFC’s capital stock by an additional 4,279 shares; and WHEREAS the last date as determined by the Board of Directors for payment by Mexico was December 31, 1995; and WHEREAS the payment for the entire number of shares allocated to Mexico for subscription under IFC Resolution No. 205 on or before December 31, 1995 was not completed; and WHEREAS in accordance with Section D of the Resolution No. 205 any shares of capital stock which remain unpaid after the last date prescribed for subscription and payment shall remain authorized and unissued, and issuable by the Corporation in accordance with its Articles of Agreement; and WHEREAS it would be consistent with the objectives of the IFC Resolution No. 205 to enable Mexico to subscribe in the aggregate to that number of shares that it was authorized to subscribe to on or before December 1, 1995; NOW, THEREFORE, THE BOARD OF GOVERNORS RESOLVES THAT: A. Mexico is hereby authorized to subscribe up to 2,694 shares of the Corporation on the terms and conditions provided for in this Resolution. B. The subscription price per share shall be $1,000 in terms of United States dollars, and such subscription price shall be paid in United States dollars or other freely convertible currency or currencies; provided that, if payment is made in such a currency or currencies other than United States dollars, the Corporation shall exercise its best efforts to cause such currency or currencies to be promptly converted into United States dollars and the same shall constitute payment of, or towards, the subscription price only to the extent that the Corporation shall have received effective payment of United States dollars. C. Payment of the subscription price for shares subscribed shall be made in cash in full upon subscription. (Adopted on June 19, 1996)