On the ratification of the amendment to the Agreement on the Establishment of the European Bank for Reconstruction and Development, authorizing its activities in the countries of the Southern and Eastern Mediterranean

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On the ratification of the amendment to the Agreement on the Establishment of the European Bank for Reconstruction and Development, authorizing its activities in the countries of the Southern and Eastern Mediterranean

Law of the Republic of Kazakhstan dated March 22, 2013 No. 83-V

To ratify the amendment to the Agreement Establishing the European Bank for Reconstruction and Development, authorizing its activities in the countries of the Southern and Eastern Mediterranean, approved by Resolution No. 137 of the Board of Governors of the European Bank for Reconstruction and Development dated September 30, 2011.

President of the Republic of Kazakhstan N. NAZARBAYEV

RESOLUTION No. 137

ON THE AMENDMENT OF THE AGREEMENT ON THE ESTABLISHMENT OF THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT AUTHORIZING ITS ACTIVITIES IN THE COUNTRIES OF THE SOUTHERN AND EASTERN MEDITERRANEAN

THE BOARD OF GOVERNORS, observing the historic changes taking place in North Africa and the Middle East; Recalling Resolution No. 134, adopted on May 21, 2011, "On the possible geographical expansion of the EBRD's region of operations," in which the Board of Governors instructed the Board of Directors to prepare recommendations for the Board of Governors regarding, inter alia, the amendment of article 1 of the Agreement Establishing the European Bank for Reconstruction and Development (Agreement) providing for an appropriate regional expansion of the geographical area the EBRD's mandate and the creation of an appropriate mechanism for granting recipient country status to countries - members of the EBRD located in this expanded region, while ensuring that any such expansion of the scope of its mandate will not require additional contributions to its capital and will not lead to a reduction in the agreed volume and impact of the EBRD's operations in its current recipient countries; Recalling also that the report of the Board of Directors on the results of the Fourth Capital Resources Review (OSCR-4) for the period 2011-2015, approved by Resolution No. 128 of the Board of Governors, confirms that the completion of the transition process remains one of the fundamental principles of the EBRD; Having considered and agreed to the report of the Board of Directors to the Board of Governors with its recommendations, inter alia, regarding the "Geographical expansion of the EBRD's region of operations to include the countries of the Southern and Eastern Mediterranean", the Board of Governors adopts an amendment to Article 1 of the Agreement in order to authorize the EBRD's operations in the countries of the Southern and Eastern Mediterranean; THUS, HEREBY DECIDES: 1. Amend the wording of Article 1 of the Agreement as follows:

"ARTICLE 1: PURPOSE

The EBRD's goal is to contribute to economic progress and reconstruction by facilitating the transition to an open, market-oriented economy, as well as the development of private and entrepreneurial initiatives in Central and Eastern European countries committed to and implementing the principles of multiparty democracy, pluralism and market economy. Subject to the fulfillment of the same conditions, the Bank's goal can also be achieved in Mongolia and in the countries of the Southern and Eastern Mediterranean - members of the Bank according to its decision adopted by a majority vote of at least two thirds of the governors representing at least three quarters of the total number of votes held by the members of the Bank. In this regard, any reference in this Agreement and its annexes to "Central and Eastern European countries", "countries from Central and Eastern Europe", "recipient country (or recipient countries)" or "recipient country, member of the Bank (or recipient countries, members of the Bank)" refers to also to Mongolia and to each of these countries of the Southern and Eastern Mediterranean." 2. The members of the EBRD are asked to indicate whether they accept the said amendment by a) issuing and depositing with the Bank a document certifying the acceptance of the said amendment by that member of the Bank in accordance with the laws of its country, and b) providing evidence in form and content satisfying the Bank of the acceptance of this amendment, as well as registration and depositing in accordance with the laws of that member of the EBRD a document on the adoption of the said amendment. 3. The said amendment shall enter into force seven days after the Bank officially confirms to its members that the requirements for its adoption have been met, as provided for in Article 56 of the Agreement establishing the EBRD.

(Adopted on September 30, 2011)

RCPI's note! The following is the text of the amendment to the Agreement in English.

President

Republic of Kazakhstan

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