Agreement establishing the Caribbean Development Bank

• Coming into Force: 26 January 1970
• Subject Terms: Caribbean,Charters-Constitutions-Statutes
• Registration Date: 26 January 1970
• Date of Conclusion: 18 October 1969
• Registration Number: 10232
• Party Submitting the Application for Registration: ex officio
• Type of Document: Multilateral
• Depositary: Secretary-General of the United Nations
• Participants: Antigua,Bahamas,Barbados,Belize,Brasil,British Honduras,British Virgin Islands,Canada,Cayman Islands,China,Colombia,Dominica,Federal Republic of Germany,France,Grenada,Guyana,Haiti,Italia,Jamaica,México,Montserrat,None,St. Kitts and Nevis,St. Kitts-Nevis-Anguilla,St. Lucia,St. Vincent,Suriname,Trinidad and Tobago,Turks and Caicos Islands,United Kingdom of Great Britain and Northern Ireland,Venezuela

No.

10232

MULTILATERAL

Agreement

establishing

the

Caribbean

Development

Bank

(with

annexes,

Protocol

to

provide

for

procedure

for

amendment

of

article

36

of

the

Agreement

and

Final

Act

of

the

Conference

of

Plenipotentiaries

on

the

Caribbean

Development

Bank).

Done

at

Kingston,

Jamaica,

on

18

October

1969

Authentic

text:

English.

Registered

ex

officio

on

26

January

1970.

MULTILATÉRAL

Accord

portant

création

de

la

Banque

de

développement

des

Caraïbes

(avec

annexes,

Protocole

établissant

la

procé

dure

de

modification

de

l'article 36

de

l'Accord

et

Acte

final

de

la

Conférence

de

plénipotentiaires

sur

la

Ban

que de

développement des

Caraïbes).

Fait

à

Kingston

(Jamaïque),

le

18

octobre

1969

Texte

authentique:

anglais.

Enregistr

d'office

le

26

janvier

1970.

218

United

Nations

Treaty

Series

1970

AGREEMENT

1

ESTABLISHING

THE

CARIBBEAN

DEVEL

OPMENT

BANK

The

Contracting

Parties,

CONSCIOUS

of

the

need

to

accelerate

the

economic

development

of

States

and

Territories

of

the

Caribbean

and

to

improve

the

standards

of

living

of

their

peoples;

RECOGNIZING

the

resolve

of

these

States

and

Territories

to

intensify

economic

co-operation

and

promote

economic

integration

in

the

Caribbean;

AWARE

of

the

desire

of

other

countries

outside

the

region

to

contribute

to

the

economic

development

of

the

region;

CONSIDERING

that

such

regional

economic

development

urgently

requires

the

mobilization

of

additional

financial

and

other

resources;

and

CONVINCED

that

the

establishment

of

a

regional

financial

institution

with

the

broadest

possible

participation

will

facilitate

the

achievement

of

these

ends;

HEREBY

AGREE

AS

FOLLOWS:

1

In

accordance

with

article

64,

the

Agreement

entered

into

force

on

26

January

1970,

upon

deposit

with

the

Secretary-General

of

the

United

Nations

of

the instruments

of

ratification

by

the

following

thirteen

signatories

(including two

non-regional

States),

whose

initial

subscriptions,

as

set

forth

in

annex

A

to

the

Agreement,

in the aggregate comprise

not

less

than

60

percent

of

the

authori

zed

capital

stock

of

the

Bank:

Signatory

Date

of

Deposit

Turks

and

Caicos Islands*

................

5

January

1970

Jamaica

........................

9

January

1970

Barbados

.......................

16

January

1970

Trinidad

and

Tobago

..................

20

January

1970

Canada

........................

22

January

1970

Guyana

........................

22

January

1970

United

Kingdom

of

Great

Britain

and

Northern

Ireland*

. .

23

January

1970

British

Honduras*

...................

26

January

1970

Dominica*

......................

26

January

1970

Grenada*

.......................

26

January

1970

St.

Kitts-Nevis-Anguilla*

................

26

January

1970

St.

Lucia*

.......................

26

January

1970

St.

Vincent*

......................

26

January

1970

*

With

a

declaration.

See

p.

324

of

this

volume

for

the

texts

of

the

declarations

made

upon

ratification.

No.

10232

220

United

Nations

—

Treaty

Series

1970

Introductory

Article

The

Caribbean

Development

Bank

(hereinafter

called

the

"Bank")

is

hereby

established

and

shall be

governed

by

the

following

ARTICLES

OF

AGREEMENT

CHAPTER

I

PURPOSE,

FUNCTIONS

AND

PARTICIPATION

Article

1

PURPOSE

The

purpose

of

the

Bank

shall

be

to

contribute

to

the

harmonious

economic

growth

and

development

of

the member

countries

in

the

Caribbean

(hereinafter

called

the

"region")

and

to

promote

economic

co-operation

and integration

among

them, having

special

and

urgent

regard

to

the

needs

of

the

less

developed

members

of

the

region.

Article

2

FUNCTIONS

1.

To

carry

out

its

purpose,

the

Bank

shall

have

the

following

functions:

(a)

to

assist

regional

members

in

the

co-ordination

of

their

development

programmes

with

a

view

to

achieving

better

utilization

of

their

resources,

making

their

economies

more

complementary,

and

promot

ing

the

orderly

expansion

of

their

international

trade,

in

particular

intra-regional

trade;

(b)

to

mobilize

within

and

outside

the

region

additional

financial

resources

for

the

development

of

the

region

;

(c)

to

finance

projects

and

programmes

contributing

to

the

development

of

the

region

or

any

of

the

regional

members;

No.

10232