International Bank for Reconstruction and Development – Articles Agreement
Type of Document: Treaties
International Organization: International Bank for Reconstruction and Development
Year: 1945
Country: Afghanistan, Algeria, Argentina, Australia, Austria, Bahrain, Bangladesh, Belgium, Bolivia, Botswana, Brazil, Burundi, Cambodia, Cameroon, Canada, Central African Republic, Chad, Chile, China, Colombia, Congo, Costa Rica, Cuba, Cyprus, Czechia, Denmark, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Ethiopia, Fiji, Finland, France, Gabon, Gambia, Germany, Ghana, Greece, Guatemala, Guinea, Guyana, Haiti, Honduras, Iceland, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy, Japan, Jordan, Kenya, Laos, Lebanon, Lesotho, Libya, Luxembourg, Madagascar, Malawi, Mali, Mauritania, Mauritius, Mexico, Morocco, Nepal, Netherlands, New Zealand, Nicaragua, Niger, Nigeria, Norway, Oman, Pakistan, Panama, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Rwanda, Saudi Arabia, Slovakia, Singapore, South Africa, Spain, Sudan, Sweden, Switzerland, Syria, Thailand, Trinidad and Tobago, Tunisia, Turkey, Uganda, United Kingdom, United States, Uruguay, Venezuela, Viet Nam, Yemen, Zambia
To enable the Bank to fulfill the functions with which it is entrusted, the Agreement provides that the Bank shall enjoy in the territory of each member States legal personality and the capacity to contract and institute legal proceedings, as well as the immunities established under Article VII. The Agreement also accords to the Bank officials the immunity from legal process for the acts performed in official capacity.
The Agreement also regulates the Position of the Bank with regard to judicial process (Section 3): Actions may be brought against the Bank only in a court of competent jurisdiction in the territories of a member in which the Bank has an office, has appointed an agent for the purpose of accepting service or notice of process, or has issued or guaranteed securities. No actions shall, however, be brought by members or persons acting for or deriving claims from members. The property and assets of the Bank shall, wheresoever located and by whomsoever held, be immune from all forms of seizure, attachment or execution before the delivery of final judgment against the Bank.