INTERNATIONAL BANK FOR RECONSTRUCTION AND
                             DEVELOPMENT

                               BOARD OF GOVERNORS



                                  Resolution No. 43

                    Terms and Conditions on which Haiti shall be
                       Admitted to Membership in the Bank


   WHEREAS, the Government of the Republic of Haiti has applied for admission to
membership in the International Bank for Reconstruction and Development in accordance
with Section 1(b) of Article II of the Articles of Agreement of the Bank; and

   WHEREAS, pursuant to Section 20 of the By-Laws of the Bank, the Executive
Directors, after consultation with representatives of the Government of the Republic of
Haiti, have made recommendations to the Board of Governors with regard to the
application of said Government for admission to membership in the Bank;

   NOW, THEREFORE, the Board of Governors,                    having   considered   the
recommendations of the Executive Directors, hereby

RESOLVES:

   THAT the terms and conditions upon which the Government of the Republic of Haiti
shall be admitted to membership in the Bank shall be as follows:

1. Definitions: As used in this resolution:
   (a) The term “Haiti� means the Government of the Republic of Haiti.
   (b) The term “Bank� means International Bank for Reconstruction and Development.
   (c) The term “Articles� means the Articles of Agreement of the Bank.
   (d) The term “dollars� or “$� means United States dollars of the weight and fineness
       in effect on July 1, 1944.
   (e) The term “subscription� means the capital stock of the Bank subscribed to by a
       member.
   (f) The term “member� means member of the Bank.

2. Membership in the Fund: Before accepting membership in the Bank, Haiti shall accept
membership in and become a member of the International Monetary Fund.

3. Subscription: By accepting membership in the Bank, Haiti shall subscribe to 20 shares
of the capital stock of the Bank at the par value of $100,000 per share.

4. Payments on Subscription:
                                                                   IBRD Resolution No. 43
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    (a) Before accepting membership in the Bank, Haiti shall pay to the Bank:
         (i) Gold or United States dollars equal to 2% of its subscription, without any
             right to postpone payment of any part thereof under Section 8(a) of Article II
             of the Articles; and
        (ii) An amount in the currency of Haiti, which, at the appropriate prevailing
             exchange rate, shall be equal in value to 18% of its subscription.
    (b) If Haiti tenders any part of the payment called for in (a) (i) above in gold, the
        Bank shall have the right to reject any such gold which, in its opinion, may not be
        sold freely and unconditionally by the Bank to members requiring certification or
        other evidence as to the origin of gold purchased by them.

5. Effective Date of Membership: Haiti shall become a member of the Bank, subject to
the terms and conditions set forth in this resolution, as of the date when Haiti shall have
complied with the following requirements:
    (a) Haiti shall deposit with the Government of the United States of America an
        instrument stating that it has accepted in accordance with its law the Articles and
        all the terms and conditions prescribed in this resolution, and that it has taken all
        steps necessary to enable it to carry out all its obligations under the Articles and
        this resolution;
    (b) Haiti shall sign the original copy of the Articles held in the Archives of the
        Government of the United States of America; and
    (c) Haiti shall have made the payments called for under paragraph 4(a) above.

6. Limitation on Period for Acceptance of Membership: Haiti may accept membership in
the Bank pursuant to this resolution until March 31, 1950; provided, however, that, if
extraordinary circumstances are deemed by the Executive Directors to warrant an
extension of the period during which Haiti may accept membership pursuant to this
resolution, the Executive Directors may extend such period until such later date as they
may determine, but in no event beyond September 30, 1950.



                                                          (Adopted on September 16, 1949)