Section 1. Conditions for Nonregional Membership

Nonregional countries which are members of the International Monetary Fund, and Switzerland, may become members of the Bank provided that, on such date in the calendar year 1976 as the Board of Executive Directors shall determine, the following conditions shall have been fulfilled:

(a) The amendments to the Agreement Establishing the Bank provided for in the resolution entitled “Amendments to the Agreement Establishing the Bank with respect to the Creation of the inter-regional Capital Stock of the Bank and to Related Matters” shall have entered into force;

(b) The increase in the authorized ordinary capital stock provided for in the resolution entitled “Increase in the Authorized Callable Ordinary Capital Stock and Subscriptions Thereto in Connection with the Admission of Nonregional Member Countries” shall have come into effect;

(c) At least eight nonregional countries, including not less than four countries with contributions to the Fund for Special Operations of not less than US$60,000,000 each, through the deposit of appropriate instruments with the Bank, shall have agreed:

(i) to subscribe at least 31,100 shares of inter-regional capital stock in accordance with Section 2 hereof;

(ii) to contribute at least the equivalent of US$375,000,000

1) U.S. dollars of the weight and fineness in effect upon the October 18, 1973 change in the par value of the U.S. dollar.

to the resources of the Fund for Special Operations in accordance with Section 3 hereof.

If it deems it appropriate after March 1, 1976, the Board of Executive Directors may reduce the total share subscriptions and the total contributions to the Fund for Special Operations specified in subparagraphs (i) and (ii) above.

Subscriptions to the inter-regional capital stock and contributions to the Fund for Special Operations by the nonregional countries shall be at least in the following amounts:

Paid-in Inter-regional capital subscriptions | Callable Inter-regional capital subscriptions | Total Inter-regional capital subscriptions | Contributions to the Fund for Special Operations

Shares | Amounts Expressed in 1959 U.S. Dollars1) | Amounts Expressed in current U.S. Dollars2) | Shares | Amounts Expressed in 1959 U.S. Dollars1) | Amounts Expressed in current U.S. Dollars2) | Shares | Amounts Expressed in 1959 U.S. Dollars1) | Amounts Expressed in current U.S. Dollars2) | Amounts Expressed in current U.S. Dollars2)

Austria | 69 | 690,000 | 832,377 | 350 | 3,500,000 | 4,222,201 | 419 | 4,190,000 | 5,054,578 | 5,054,578

Belgium | 171 | 1,710,000 | 2,062,847 | 865 | 8,650,000 | 10,434,869 | 1,036 | 10,360,000 | 12,497,716 | 12,497,716

Denmark | 74 | 740,000 | 892,694 | 373 | 3,730,000 | 4,499,660 | 447 | 4,470,000 | 5,392,354 | 5,392,354

Germany | 863 | 8,630,000 | 10,410,742 | 4,367 | 43,670,000 | 52,681,009 | 5,230 | 52,300,000 | 63,091,751 | 63,091,751

Israel | 68 | 680,000 | 820,313 | 346 | 3,460,000 | 4,173,948 | 414 | 4,140,000 | 4,994,261 | 4,994,261

Italy | 842 | 8,420,000 | 10,157,410 | 4,264 | 42,640,000 | 51,438,476 | 5,106 | 51,060,000 | 61,595,886 | 61,595,886

Japan | 940 | 9,400,000 | 11,339,627 | 4,757 | 47,570,000 | 57,385,748 | 5,697 | 56,970,000 | 68,725,375 | 68,725,375

Netherlands | 128 | 1,280,000 | 1,544,120 | 648 | 6,480,000 | 7,817,104 | 776 | 7,760,000 | 9,361,224 | 9,361,224

Portugal | 68 | 680,000 | 820,313 | 346 | 3,460,000 | 4,173,948 | 414 | 4,140,000 | 4,994,261 | 4,994,261

Spain | 842 | 8,420,000 | 10,157,410 | 4,264 | 42,640,000 | 51,438,476 | 5,106 | 51,060,000 | 61,595,886 | 61,595,886

Switzerland | 188 | 1,880,000 | 2,267,925 | 952 | 9,520,000 | 11,484,388 | 1,140 | 11,400,000 | 13,752,313 | 13,752,313

United Kingdom | 842 | 8,420,000 | 10,157,410 | 4,264 | 42,640,000 | 51,438,476 | 5,106 | 51,060,000 | 61,595,886 | 61,595,886

Yugoslavia | 69 | 690,000 | 832,377 | 350 | 3,500,000 | 4,222,201 | 419 | 4,190,000 | 5,054,578 | 5,054,578

Sub-Total | 5,164 | 51,640,000 | 62,295,565 | 26,146 | 261,460,000 | 315,410,504 | 31,310 | 313,100,000 | 377,706,069 | 377,706,069

Unassigned | 1,836 | 18,360,000 | 22,148,462 | 8,854 | 88,540,000 | 106,809,630 | 10,690 | 106,900,000 | 128,958,092 | 128,958,092

Total | 7,000 | 70,000,000 | 84,444,027 | 35,000 | 350,000,000 | 422,220,134 | 42,000 | 420,000,000 | 506,664,161 | 506,664,161

1) U.S. dollars of the weight and fineness in effect on January 1, 1959.

2) U.S. dollars of the weight and fineness in effect upon the October 18, 1973 change in the par value of the U.S. dollar.

Section 2. Subscriptions to Inter-regional Capital Stock

(a) Nonregional countries listed in Section 1 hereof may subscribe to shares of inter-regional capital stock.

(b) Each subscription shall include at least the full amount of both paid-in inter-regional capital shares and callable inter-regional capital shares assigned to the respective country in Section 1 hereof, and each subscribing country shall represent to the Bank that it has taken all necessary action to authorize its subscription and shall furnish to the Bank such information thereon as the latter may request.

(c) The subscription of each country to the paid-in inter-regional capital stock shall be on the following terms and conditions:

(i) The subscription price per share shall be US$10,000 in terms of United States dollars of the weight and fineness in effect on January 1, 1959.

(ii) Payment of the amount of paid-in inter-regional capital stock subscribed by each country shall be made in three equal installments, except that the Board of Executive Directors, taking into account special circumstances with respect to particular countries, may agree (i) that the amount of the first installment to be paid by the respective country may be decreased to not less than 20% of the amount of the paid-in capital assigned to such country, with the two subsequent installments to be adjusted accordingly; or (ii) that payment by the respective country may be made in five equal annual installments. The first installment shall be paid by each country within thirty days after the entry into force of these General Rules or on or before the date of deposit of the instrument of acceptance or ratification in accordance with Section 4 (c) (ii) hereof, whichever shall be later. If a country chooses to pay the first installment in cash, it may make the payment not later than the end of the calendar year in which these General Rules enter into force or the calendar year in which the member deposits its instrument of ratification, if this is later. Each of the remaining annual installments shall become due at intervals of one year after the date on which the first installment becomes due.

(iii) Each installment shall be paid entirely in the currency of the contributing country which shall make arrangements satisfactory to the Bank to assure that such currency shall be freely convertible into the currencies of other countries for the purposes of the Bank's operations.

(iv) 50% of each installment shall be subject to the provisions of Article V, Section 1 (b) (i), of the Agreement Establishing the Bank and shall be paid in cash. With respect to the remaining 50% of each installment, unless a country elects to make payment thereof also in cash, the Board of Executive Directors shall establish a schedule pursuant to which any non-negotiable, non-interest-bearing promissory notes or similar securities accepted pursuant to Article V, Section 4, shall be paid to the Bank.

(d) The subscription of each country to the callable inter-regional capital stock shall be on the following terms and conditions:

(i) The subscription price per share shall be US$10,000 in terms of United States dollars of the weight and fineness in effect on January 1, 1959.