World Bank Loan Agreements

107 See, in general, the European Bank for Reconstruction and Development, general terms of sale (March 1994) [hereafter the EBRD March 1994 STCs]. Section 1.01 of the STCs states that "[d]ny Bank loan agreement or guarantee agreement for a transaction that is provided or secured to a member of the Bank may provide that the parties to this agreement accept the provisions of these terms and conditions of sale." 1.01. As confirmed by other provisions of CSC, this opening section makes TCCs of general application (subject to changes in some transactions) to any agreement with a party that has a financial commitment to the EBRD as part of a public sector loan; That is, applicable (1) to the loan agreement if the loan is granted to the Member State and (2) for both the loan contract and the guarantee contract, where the loan is granted to an entity other than the Member State (for example). B, a public company) and guaranteed by the Member State. See z.B. id. 6.01 (a) (ii), 7.01 (a), 7.04, 8.01, 8.04 (a), 9.01 -9.05 and 10.03 (i.e. bonds imposed simultaneously on the borrower and the surety, as cited in point 8.01, in Note 111 below, or in reference to the loan contract and the guarantee contract as instruments submitted to the STC). In this regard, the EBRD`s STCs use the same general formulation as the corresponding standard conditions of most other MDBs.

Compare ID 1.01 to the terms and conditions of IBRD 1985, Above 14, 1.01, ADB 1986 Credit Regulations, Note 93, No. 1.02, and AFDB 1989 Terms and Conditions, Note 93, No. 1.01. 139 Further support for this view of the status of these agreements could come from their inclusion at the United Nations. This question goes beyond the scope of this article, but deserves reflection. An obvious starting point for such a review would be the practice of the World Bank and the explanation of Broches. See text and notes 57, 61 above. How does current legislation provide for loan contracts by the World Bank and other multilateral development banks (MDBs) as part of the implementation of their public sector loans? This issue was finally addressed for the first time about 35 years ago. This article again addresses this issue in the light of the latest practical developments, in particular the recent MDB, the European Bank for Reconstruction and Development (EBRD). 161 See. WB 1994 Report, supra note 8, at 230-33 (shows all loans from IBRD and IDA stoniean in mid-1994 for the four largest borrowers of the former Soviet republics – Belarus, Kazakhstan, Kyrgyzstan and Russia – for nearly $3.5 billion, with Russia alone representing nearly $2.9 billion).

Although the EBRD`s annual report does not clearly distinguish between private and public sector loans in terms of ebRD operations reports, The EBRD has provided a total of at least ECU 2.19 billion (US$2.70 billion) to public sector loans, as total private sector operations (often of lesser importance in the form of public sector loans) account for 62% of the total and that the total funding of the EBRD amounts to ECU 5.77 billion (US$7.10 billion). from a point of order