Initial Subscriptions. The Bank and the following States which have signed this Agreement have subscribed the following amounts: African Development Bank 5,000,000 Belgium 3,000,000 Brazil 2,000,000 Canada 15,000,000 Denmark 5,000,000 Federal Republic of Germany 7,447,630 Finland 2,000,000 Italy 10,000,000 Japan 15,000,000 Netherlands 4,000,000 Norway 5,000,000 Spain 2,000,000 Sweden 5,000,000 Swiss Confederation 3,000,000 United Kingdom 5,211,420 Yugoslavia 2,000,000 Total 90,659,050 Designation of Directors by the Bank 1. The President of the Bank shall give to the Fund, on the occasion of each designation by the Bank of directors of the Fund, a notification setting forth: (i) the names of the directors so designated; and (ii) the number of votes which each such director shall be entitled to cast. 2. When there shall be a vacancy in the office of a director designated by the Bank, the President shall notify to the Fund the name of the person designated by the Bank as his successor.
Appears in 2 contracts
Sources: Agreement Establishing the African Development Fund, Agreement Establishing the African Development Fund