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LAW OF THE KYRGYZ REPUBLIC

of August 13, 2004 No. 118


About membership of the Kyrgyz Republic in international financial institutions

Accepted by General Court of Jogorku Kenesh of the Kyrgyz Republic on June 24, 2004

This Law determines legal conditions of membership of the Kyrgyz Republic in international financial institutions.

Article 1. International financial institutions - the organizations created for assistance to economic development and financial stabilization of member countries, to free trade, development of state members by means of provision of financial, technical and other aid. Treat international financial institutions:

- International Monetary Fund (IMF);

- International Bank for Reconstruction and Development (IBRD);

- International Finance Corporation (IFC);

- International Development Association (IDA);

- Multilateral Investment Warranty Agency (MIWA);

- Asian Development Bank (ADB);

- European Bank for Reconstruction and Development (EBRD);

- Islamic Development Bank (IDB) and others.

The financial agent - the authorized state body which is performing attraction on behalf of the Kyrgyz Republic of borrowed funds and carrying out transactions and transactions according to articles of agreements, conventions, rules and provisions of international financial institutions which members is the Kyrgyz Republic.

Transactions and transactions - payments of money and release of the untranslatable interest-free government securities connected with membership of the Kyrgyz Republic in international financial institutions.

Depositary - the authorized state body performing depository activity which includes accounting of securities and/or storage of the securities issued on behalf of the Government of the Kyrgyz Republic connected with membership in the international organizations.

Article 2. The Kyrgyz Republic is member:

- The International Monetary Fund, with adoption of articles of agreements of the IMF;

- International Bank for Reconstruction and Development, with adoption of articles of agreements of IBRD;

- International Finance Corporation, with adoption of articles of agreements of IFC;

- International Development Association, with adoption of articles of agreements of MAR;

- The multilateral Investment Warranty Agency, with adoption of the Convention establishing the Agency;

- Asian Development Bank, with adoption of agreements on ABR organization;

- The European Bank for Reconstruction and Development, with adoption of agreements on EBRD organization;

- Islamic Development bank, with adoption of the Foundation agreement of IBR;

- other international financial institutions;

with all amendments and acceptance of conditions and provisions of resolutions according to executive councils of the IMF, IBRD, IFC, MAR, the INSTANT, IBR, the EBRD, ABR and other international financial institutions concerning the entry of the Kyrgyz Republic into these organizations.

Article 3. The president of the Kyrgyz Republic or person authorized by him are authorized:

- sign original version of articles of agreements of the IMF, IBRD, IFC, MAR and other international financial institutions, the Convention establishing the INSTANT, agreements on organization EBRD, ABR, the Foundation agreement of IBR;

- prepare and entrust on storage the Act of recognition and other documents which, perhaps, will be required in purposes aforesaid.

The president of the Kyrgyz Republic appoints the Managing director from the Kyrgyz Republic in boards of governors of the IMF, IBRD, IFC, MAR, the INSTANT, IBR, the EBRD, ABR and other international financial institutions.

Article 4. Entering in members of the International Monetary Fund, the Kyrgyz Republic is authorized to become the member of Department of Special drawing rights.

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