22 Dec World Bank Loan Agreement Pdf
108 The EBRD approved its first loan in June 1991. See European Bank for Reconstruction and Development, Annual Report 1991 20 (1992). 68 This view was then expressed in the 1969 Vienna Convention on Treaty Law, which included the “international” legal order test in its definition of a treaty, indicating that some international agreements between subjects of international law may nevertheless be governed by communal law. See the Vienna Convention on Treaty Law of May 23, 1969, art. 2 (l)o), 1155 UNTS 331, 8 ILM 679 (1969) (entered into force on 27 January 1980) [hereafter the 1969 Vienna Convention]. 10 See z.B. Proposes the plan of the Bulgarian Refining Committee, Fin. Times E. Eur. Energy Rep. (London), September 1992, in LEXIS/NEXIS, WORLD Library, ALLNWS File (rectifies that the Bulgarian refinery Neftochim has proposed suspending payments for a World Bank loan in order to strengthen the company`s finances); Raul Ronzoni, Uruguay: Leftists Struggle to Unite Before 1994 Elections, Inter Press Service, 16 November 1993, available in the ID, the CURNWS file (with the sign of a member of the Uruguayan left-wing coalition in favour of “non-payment of external debt”). Perhaps the most public threat in this regard came in 1987, when Romania threatened to suspend the repayment of its $1.9 billion debt to the World Bank.
See Jan Krcmar, Romania threatens to suspend the repayment of the World Bank`s debt, Reuters, December 3, 1987, available in the id., ALLNWS File. In recent years, there have been several cases of such suspensions. See z.B. Panama Holding Debt Talks in New York-Banker, Reuters, March 21, 1995, available in id. (with the note service that “Panama suspended all external debt payments in 1987, but entered into restructuring agreements with lenders in 1987); Congo Pays Off World Bank Loan Rears, Reuters, July 1, 1994, available in id. (under the embezzlement of Congo`s arrears of about $100 million to the World Bank); Zambia: Government Country 50m Dollars Rears to World Bank, British Broadcasting Corp., Feb. 11, 1992, available in id. (discussion of Zambia`s arrears to the World Bank); Nicaraguan officials will meet with the World Bank, Reuters, on 24 July 1991, available in id. (under the guise of Nicaragua`s arrears of payment to the World Bank); Peru craves Grand Amortization; Citi to Lend 1 Billion Bridge, Am. Banker-Bond Buyer, 30 November 1992, available in LEXIS/NEXIS, BANKING Library, ALLNWS File (view of Peru`s arrears at the World Bank). A list of World Bank member countries that have lagged behind in their lending to the World Bank since mid-1994 is included in the 1994 WB report, note 8, to 168. 87 See Mark Moment – Delissa A.
Ridgway, Dispute Resolution in World Financial Institutions, 10 J. Int`l Arb. 73, 82 (1993) (with the sign that “there has never been an effective trade-off between a large multilateral development bank and a borrower”). See also Brooches, note 12, to 259 (with indication that from 1980 on, the World Bank`s arbitration provisions “ha[d] were never used”). 86 Id.M. Broches also pointed out that the provision of Regulation 3 and Loan Regulation 4, which applies to loan contracts with members or non-members, is formulated in the same way (and not different to reflect the different types of borrowers in both cases), since, in many cases, the World Bank grants a loan to a non-member state, “the transaction could also take the form of a loan to the member government.”