International Finance Corporation Articles of Agreement
Type of Document: Treaties
International Organization: IFC
Year: 1955
Country: Afghanistan, Argentina, Australia, Austria, Belgium, Bolivia, Brazil, Canada, Chile, China, Colombia, Costa Rica, Cuba, Cyprus, Denmark, Dominican Republic, Ecuador, Egypt, El Salvador, Ethiopia, Finland, France, Germany, Ghana, Greece, Guatemala, Guyana, Haiti, Honduras, Iceland, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy, Ivory Coast, Jamaica, Jordan, Kenya, Kuwait, Lebanon, Liberia, Libya, Luxembourg, Madagascar, Malawi, Malaysia, Mauritania, Mauritius, Mexico, Morocco, Nepal, Netherlands, New Zealand, Nicaragua, Nigeria, Norway, Pakistan, Panama, Paraguay, Peru, Philippines, Portugal, Saudi Arabia, Senegal, Sierra Leone, Singapore, Somalia, South Africa, South Korea, Spain, Sudan, Switzerland, Sweden, Syria, Thailand, Togo, Tunisia, Turkey, Uganda, United Kingdom, United States, Uruguay, Venezuela, Viet Nam, Zambia
To enable the International Finance Corporation (IFC) to fulfill the functions with which it is entrusted, Article VI of the Agreement (as amended in 2020) provides the IFC with legal personality and privileges and immunities in the territories of each member State.
Actions may be brought against the Corporation only in a court of competent jurisdiction in the territories of a member in which the Corporation has an office, has appointed an agent for the purpose of accepting service 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 Corporation 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 Corporation (Section 3).
All Governors, Directors, Alternates, officers and employees of the Corporation shall be immune from legal process with respect to acts performed by them in their official capacity (Section 8).
The Corporation in its discretion may waive any of the privileges and immunities conferred under
this Article to such extent and upon such conditions as it may determine (Section 11).