The African Development Bank (Thirteenth Replenishment of the African Development Fund) Order 2014

Made: 8th September 2014

Coming into force in accordance with Article 1

Accordingly, the Secretary of State for International Development makes the following Order:

Citation and commencement

1

This Order may be cited as the African Development Bank (Thirteenth Replenishment of the African Development Fund) Order 2014 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 1983[^f00002];

• “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 1973[^f00003];

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

• “the Resolution” means the Resolution F/BG/2014/01 of the Board of Governors of the Fund dated 31st January 2014.

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 603,585,673 pounds sterling 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

Justine Greening — Secretary of State — Department for International Development — 3rd September 2014

We approve,

David Evennett — Harriett Baldwin — Two of the Lords Commissioners of Her Majesty’s Treasury — 8th September 2014

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

This Order approves the making of a payment on behalf of the Government of the United Kingdom to the African Development Fund (“the Fund”) of a sum not exceeding 603,585,673 pounds sterling as the contribution of the Government of the United Kingdom to the thirteenth replenishment of the resources of the African Development Fund. The contribution to the Fund is paid in accordance with arrangements made with the Fund pursuant to Resolution F/BG/2014/01 adopted by the Board of Governors of the Fund on 31 January 2014.

The Order also provides for the redemption of non-interest-bearing and non-negotiable notes issued by the Secretary of State pursuant to the arrangements.

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 mentioned in this Order may be obtained by application to the Department for International Development, 22 – 26 Whitehall, London SW1A 2EG.

Footnotes

[^f00001]: 2002 c.1

[^f00002]: Cmnd 1205

[^f00003]: Cmnd 7551