Other Resources. 1. Subject to the following provisions of this Article, the Fund may enter into arrangements to receive other resources, including grants and loans, from members, participants, States which are not participants and from any public or private entity or entities. 2. Such arrangements shall be on terms and conditions which are consistent with the Fund’s purposes, operations and policies and which will not impose an undue administrative or financial burden on the Fund or the Bank. 3. Such arrangements, other than those for grants for technical assistance, shall be on terms which will permit the Fund to comply with the requirements of Article 15 (4) and (5). 4. Such arrangements shall be approved by the Board of Directors, in the case of arrangements with a State which is not a member or a participant or with an agency of such State, by an eighty-five per cent majority of the total voting power of the participants. 5. The Fund shall not accept any loan (except temporary accommodations required for its operations) which is not on concessional terms and shall not borrow in any market or, as a borrower, guarantor, or otherwise, participate in the issue of securities in any market and shall not issue negotiable or transferable obligations evidencing indebtedness for loans received pursuant to paragraph 1.
Appears in 3 contracts
Sources: Agreement Establishing the African Development Fund, Agreement Establishing the African Development Fund, Agreement Establishing the African Development Fund