The African Development Bank (Eleventh Replenishment of the African Development Fund) Order 2008

Made: 17th July 2008

Coming into force in accordance with Article 1

In accordance with section 11(5) of the Act, a draft of this Order has been laid before the House of Commons and approved by resolution of that House.

Citation and commencement

1

This Order may be cited as the African Development Bank (Eleventh Replenishment of the African Development Fund) Order 2008 and comes into force on the day after the day on which it is made.

Interpretation

2

In this Order—

• “the Bank” means the African Development Bank established by an agreement dated 4th August 1963, as ratified by the Government on 29th April 1983²;

• “the Fund” means the African Development Fund of the Bank established by an agreement dated 29th November 1972, as ratified by the Government on 30th June 1973³;

• “the Government” means the Government of the United Kingdom;

• “the Resolution” means Resolution F/BG/2008/01 dated 28th March 2008 of the Board of Governors of the Fund.

Relevant Payments

3

The Secretary of State may, on behalf of the Government—

• (a) make payment of a further contribution to the Fund not exceeding £417,000,000 in accordance with arrangements made between the Government and the Fund in accordance with the Resolution; and

• (b) make payment of sums required to redeem any non-interest-bearing and non-negotiable notes or other obligations which may be issued or created by the Secretary of State and accepted by the Fund in accordance with the arrangements mentioned in paragraph (a),

in accordance with section 11 of the International Development Act 2002.

Signed

Douglas Alexander — Secretary of State — Department for International Development — 17th July 2008

We approve

Alan Campbell — Dave Watts — Two of the Lords Commissioners of Her Majesty’s Treasury — 17th July 2008

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

This Order approves the making of payments on behalf of the Government of the United Kingdom of sums not exceeding £417,000,000 as a further contribution to the resources of the African Development Fund in accordance with the arrangements made pursuant to Resolution F/BG/2008/01 adopted by the Board of Governors of the African Development Fund on 28th March 2008.

The Order further approves the redemption of non-interest-bearing and non-negotiable notes issued by the Secretary of State in payment of the further contribution.

An impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

The provisions of the Resolution referred to above may be obtained by application to the Department for International Development, 1 Palace Street, London SW1E 5HE.

Footnotes