Adb Host Country Agreement

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The Bank enjoys immunity from any form of judicial proceedings, except in cases arising from or related to the exercise of its power to borrow money, guarantee obligations or to buy and sell or protect the sale of securities in cases in which shares may be brought against the bank before a competent court in the territory of a country in which the bank has its head office or head office. or has appointed an agent for the purpose of accepting services or procedural notifications, or has issued or guaranteed securities. Any amount that goes to the country concerned for its actions is withheld as long as that country, its central bank or one of its agencies, the instrumentalities or political subdivisions as borrowers or guarantors remain responsible to the bank and that this amount may, at the bank`s choice, be applied to such a liability to which it is due. No amount is withheld because of the country`s potential liability for future deductions for the subscription of shares pursuant to Article 6, paragraph 5, of this agreement. In any event, a sum owed to the member for his actions is paid only six (6) months after the date on which the country ceases to be a member. After a country is no longer a member, it remains responsible for its direct commitments to the Bank and its potential commitments to the Bank until a portion of the loans or guarantees taken out before the end of its accession has been taken out, but it cannot take out any debts relating to the loans and guarantees it subsequently took out. , again on the bank`s income or expenses. (a) where the face value of a member of the International Monetary Fund is reduced in the form of the dollar defined in Article 4 of this agreement or (b) after consultation with the International Monetary Fund, a member`s exchange rate is sharply depreciated after consultation with the International Monetary Fund, the member pays the Bank, within a reasonable period of time, an additional amount of its currency necessary to maintain the currency. , the value of all the money held by the bank, with the exception of (a) the currency derived from its borrowings by the Bank and b) unless the agreement to establish these funds is otherwise, the special credits accepted by the Bank in accordance with Article 19, paragraph 1, paragraph ii).

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