134
United Nations—Treaty Series
1947
No. 20(b). ARTICLES OF AGREEMENT OF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT.
The Governments on whose behalf the present Agreement is signed agree as follows:
Introductory Article
The International Bank for Reconstruction and Development is established and shall operate in accordance with the following provisions:
Article 1
Purposes
The purposes of the Bank are:
- (I) To assist in the reconstruction and development of territories of members by facilitating the investment of capital for productive purposes, including the restoration of economies destroyed or disrupted by war, the reconversion of productive facilities to peacetime needs and the encouragement of the development of productive facilities and resources in less developed countries.
- (II) To promote private foreign investment by means of guarantees or participations in loans and other investments made by private investors; and when private capital is not available on reasonable terms, to supplement private investment by providing, on suitable conditions, finance for productive purposes out of its own capital, funds raised by it and its other resources.
- (III) To promote the long-range balanced growth of international trade and the maintenance of equilibrium in balances of payments by encouraging international investment for the development of the productive resources of members, thereby assisting in raising productivity, the standard of living and conditions of labour in their territories.
- (IV) To arrange the loans made or guaranteed by it in relation to international loans through other channels so that the more useful and
