Loi du 4 avril 2025 portant approbation des amendements

Loi du 4 avril 2025 portant approbation des amendements

1° aux Statuts de la Banque internationale pour la reconstruction et le développement, signés à

Bretton Woods, le 22 juillet 1944 ;

2° à l’Accord portant création de la Banque asiatique de développement, signé à Manille, le

4 décembre 1965 ;

3° à l’Accord portant création de la Banque européenne pour la reconstruction et le développement,

signé à Paris, le 29 mai 1990 ;

4° à l’article 4 du Protocole n° 5 sur les statuts de la Banque européenne d’investissement portant

sur une augmentation du capital souscrit de la Banque.

Nous Henri, Grand-Duc de Luxembourg, Duc de Nassau,

Le Conseil d’État entendu ;

Vu l’adoption par la Chambre des Députés ;

Vu la décision de la Chambre des Députés du 2 avril 2025 et celle du Conseil d’État du 4 avril 2025 portant

qu’il n’y a pas lieu à second vote ;

Avons ordonné et ordonnons

Est approuvé l’amendement à l’article III, section 3, des Statuts de la Banque internationale pour la

reconstruction et le développement, adopté par la résolution 696 du Conseil des gouverneurs en date du

10 juillet 2023.

Est approuvé l’amendement à l’article 12 de l’Accord portant création de la Banque asiatique de

développement, tel que proposé par le Conseil d’administration au Conseil des gouverneurs de la Banque

asiatique de développement en date du 20 octobre 2023.

Est approuvé l’amendement à l’article 1er et à l’article 12.1 de l’Accord portant création de la Banque

européenne pour la reconstruction et le développement, adopté par les résolutions 259 et 260 du Conseil

des gouverneurs en date du 18 mai 2023.

Est approuvée la version consolidée de l’article 4 du Protocole n° 5 sur les statuts de la Banque européenne

d’investissement, tel que modifié par la décision du Conseil des gouverneurs de la Banque européenne

d’investissement du 16 avril 2019 relative au remplacement de la part du capital du Royaume-Uni dans la

Banque européenne d’investissement par le capital souscrit par les États membres restants (2019/655) et

tel qu’approuvé par la décision (UE) 2019/654 du Conseil du 15 avril 2019 modifiant le protocole n° 5 sur les

N° 120 du 7 avril 2025

statuts de la Banque européenne d’investissement et par la décision (UE) 2019/1255 du Conseil du

18 juillet 2019 modifiant le protocole n° 5 sur les statuts de la Banque européenne d’investissement.

Mandons et ordonnons que la présente loi soit insérée au Journal officiel du Grand-Duché de Luxembourg

pour être exécutée et observée par tous ceux que la chose concerne.

Le Ministre des Finances,

Gilles Roth

Fait le 4 avril 2025

Pour le Grand-Duc,

Son Lieutenant-Représentant,

Guillaume,

Grand-Duc Héritier

Doc. parl. 8422 ; législature 2023-2028.

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ANNEXES

INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT

BOARD OF GOVERNORS

Resolution No. 696 Amendment of the Articles of Agreement – Removal of Lending Limitation

RESOLVED

WHEREAS, the Report of the Executive Directors recommended that Article III, Section 3 of the Articles of

Agreement of the International Bank for Reconstruction and Development (Bank) be amended as set forth

below; and

WHEREAS, the Chair of the Board of Governors has requested the Secretary of the Bank to bring the proposal

of the Executive Directors before the Board of Governors to vote on the following Resolution without meeting,

pursuant to Section 12 of the By-Laws of the Bank;

NOW, THEREFORE, the Board of Governors, noting the recommendations and the said Report of the

Executive Directors, hereby resolves as set forth below

Article III, Section 3 of the Articles of Agreement of the Bank shall be amended by deleting the existing title

and text and substituting therefor “Article III, Section 3 Deleted.”

(Adopted on July 10, 2023)

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(DRAFT)

RESOLUTION OF THE BOARD OF GOVERNORS OF THE ASIAN DEVELOPMENT BANK

Proposal to Remove the ADB Charter Lending Limitation

WHEREAS

The Asian Development Bank (ADB) in its Report of the Board of Directors to the Board of Governors

recommended that the Board of Governors approve the proposal to remove Article 12 (Limitations on Ordinary

Operations), para. 1 of the Agreement Establishing the Asian Development Bank (ADB Charter) as set forth

below.

The Chairman of the Board of Governors has requested the President to transmit the Board of Directors’

proposal to amend the ADB Charter to each Governor to vote on the following resolution without a meeting,

pursuant to the special procedure prescribed in Section 3 of the by-laws of ADB.

NOW, THEREFORE, the Board of Governors HEREBY RESOLVES THAT

Article 12 (Limitations on Ordinary Operations), para. 1 of the Agreement Establishing the Asian Development

Bank (ADB Charter) shall be amended by deleting the existing text and substituting therefor “1. Deleted.” As

amended, Article 12 (Limitations on Ordinary Operations) of the ADB Charter shall be read as follows

Article 12

LIMITATIONS ON ORDINARY OPERATIONS

1. Deleted.1

2. In the case of loans made with funds borrowed by the Bank to which the commitment to calls provided for

by paragraph 5 of Article 6 of this Agreement is applicable, the total amount of principal outstanding and

payable to the Bank in a specific currency shall not at any time exceed the total amount of the principal of

outstanding borrowings by the Bank that are payable in the same currency.

3. In the case of funds invested in equity capital out of the ordinary capital resources of the Bank, the total

amount invested shall not exceed ten (10) per cent of the aggregate amount of the unimpaired paid-in capital

stock of the Bank actually paid up at any given time together with the reserves and surplus included in its

ordinary capital resources, exclusive of the special reserve provided for in Article 17 of this Agreement.

4. The amount of any equity investment shall not exceed such percentage of the equity capital of the entity

or enterprise concerned as the Board of Directors shall in each specific case determine to be appropriate.

The Bank shall not seek to obtain by such an investment a controlling interest in the entity or enterprise

concerned, except where necessary to safeguard the investment of the Bank.

Resolution of the Board of Governors of ADB No. [resolution number] – PROPOSAL TO REMOVE THE ADB CHARTER LENDING LIMITATION (Adopted on [date]).

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PUBLIC

RESOLUTION NO.259

AMENDMENT TO ARTICLE 1 OF THE AGREEMENT ESTABLISHING THE EUROPEAN BANK FOR

RECONSTRUCTION AND DEVELOPMENT TO ENABLE A LIMITED AND INCREMENTAL EXPANSION

OF THE GEOGRAPHIC SCOPE OF THE BANK’S OPERATIONS TO SUB-SAHARAN AFRICA AND IRAQ

THE BOARD OF GOVERNORS,

Recalling Resolution No.248, by which the Board of Governors approved, in principle, a limited and

incremental expansion of the geographic scope of the Bank’s operations to sub-Saharan Africa and Iraq;

Emphasising the importance of sub-Saharan Africa and Iraq to achieving the international community’s

geopolitical and development priorities, the growing links between many countries in sub-Saharan Africa and

Iraq and current EBRD countries of operations, and the relevance and applicability of the Bank’s mandate,

business model, private sector focus and competencies in sub-Saharan Africa and Iraq;

Stressing that the most urgent priority of the Bank remains to support Ukraine and other countries of

operations affected by the war on Ukraine;

Recognising that the war on Ukraine has reinforced the parallel relevance of continuing to address

shareholder objectives in sub-Saharan Africa and Iraq;

Underlying that any possible limited and incremental expansion to new countries of operations must not

impair the Bank’s ability to support its current countries of operations, compromise the Bank’s triple-A rating,

lead to a request for additional capital contributions, or deviate from the Bank’s mandate to support transition

and its operating principles of additionality and sound banking;

Emphasising the importance of complementarity and collaboration amongst development partners already

active in sub-Saharan Africa and Iraq; and

PUBLIC

PUBLIC

Having considered the Report of the Board of Directors to the Board of Governors “Amendment to Article 1

of the Agreement Establishing the European Bank for Reconstruction and Development in order to enable

the limited and incremental expansion of the geographic scope of the Bank’s operations to sub-Saharan Africa

and Iraq” and being in agreement with its conclusions, amongst others, that

(i) The analysis of the capital and financial implications reconfirms that a limited and incremental expansion

to Sub-Saharan Africa and Iraq will not in itself impair the Bank’s ability to support its existing countries of

operations, compromise the Bank’s triple-A credit rating, or lead to a request for additional capital

contributions;

(ii) Such limited and incremental expansion of the geographic scope of the Bank’s operations to sub-Saharan

Africa and Iraq should be enabled through an amendment of Article 1 of the Agreement Establishing the

European Bank for Reconstruction and Development (‘the Agreement’); and

(iii) The implementation of the expansion must be carried out in a way that will not dilute the focus of the Bank

in supporting Ukraine and other countries of operations affected by the war on Ukraine.

RESOLVES THAT

PUBLIC

1. Article 1 of the Agreement shall be amended to read as follows

“In contributing to economic progress and reconstruction, the purpose ofthe Bank shall be to foster the

transition towards open market-orientedeconomies and to promote private and entrepreneurial initiative in

the Central and Eastern European countries committed to and applying the principles of multiparty

democracy, pluralism and market economics. Subject to the same conditions, the purpose of the Bank may

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also becarried out in (i) Mongolia; and in member countries of the Southern and Eastern Mediterranean;and

(iii) a limited number of member countries of sub-Saharan Africa; in each case under (ii) and (iii) as

determined by the Bank upon the affirmative vote of not less than two-thirds of the Governors,representing

not less than three-fourths of the total voting power of the members. Accordingly, any reference in this

Agreement and its annexes to“Central and Eastern European countries”, “countries from Central and

Eastern Europe”, “recipient country (or countries)” or “recipient member country (or countries)” shall refer

to Mongolia and each of such countries of the Southern and Eastern Mediterranean and sub-Saharan Africa

as well.”

a. The term “sub-Saharan Africa” as set out under Article 1 of the Agreement shall be understood to mean

the sub-Saharan Africa region as defined by the World Bank Group.

b. The limitation on the number of member countries of sub-Saharan Africa in which the Bank may carry out

its purpose as set out under Article 1 of the Agreement shall be understood so as to enable a limited and

incremental expansion of the geographic scope of the Bank’s operations, in accordance with the measures

and mechanisms set out in the report of Board of Directors “Amendment of the Agreement Establishing the

European Bank for Reconstruction and Development in order to enable the limited and incremental expansion

of the geographic scope of the Bank’s operations to sub- Saharan Africa and Iraq”. In this context, an

affirmative vote of not less than three- fourths of the Governors, representing not less than four-fifths of the

total voting power of the members shall be required to approve any further increment to the expansion.

c. Iraq shall be incorporated into the Southern and Eastern Mediterranean region for the purposes of the

Agreement, and consequently the term “Southern and Eastern Mediterranean” as set out under Article 1 of

the Agreement shall be understood to mean the region consisting of the countries that have a shoreline on

the Mediterranean as well as Jordan and Iraq, which are closely integrated into this region.

2. Members of the Bank shall be asked whether they accept the said amendment by (a) executing and

depositing with the Bank an instrument stating that such member has accepted the said amendment in

accordance with its law and (b) furnishing evidence, in form and substance satisfactory to the Bank, that the

amendment has been accepted and the instrument of acceptance has been executed and deposited in

accordance with the law of that member.

3. The said amendment shall enter into force three (3) months after the date on which the Bank has formally

confirmed to its members that the requirements for accepting the said amendment, as provided for in Article 56

of the Agreement, have been met.

(Adopted 18 May 2023)

PUBLIC

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PUBLIC

RESOLUTION NO.260

AMENDMENT TO ARTICLE 12.1 OF THE AGREEMENT ESTABLISHING THE EUROPEAN BANK FOR

RECONSTRUCTION AND DEVELOPMENT TO REMOVE THE STATUTORY CAPITAL LIMITATION ON

ORDINARY OPERATIONS

THE BOARD OF GOVERNORS,

Recognising the essential role of Multilateral Development Banks (MDBs) in addressing multiple pressing

global challenges;

Noting the significant changes in capital management practices in the financial sector since the Agreement

entered into force on 28 March 1991;

Wishing to enable the optimal use of the Bank’s capital capacity to support the Bank in achieving the maximum

potential impact in its recipient countries;

Welcoming the wide ranging recommendations of the G20 Independent Review of Capital Adequacy

Frameworks and the careful consideration accorded to them by the Bank, including specifically the

recommendation to modernise MDBs’ approach to managing capital adequacy by relocating specific leverage

limits from MDB statutes to MDB capital adequacy frameworks, in a coordinated manner among MDBs;

Having considered and being in agreement with the report of the Board of Directors “Amendment of the

1 to the Agreement Establishing the European Bank for Reconstruction and Development in order

to remove the statutory capital limitation on ordinary operations” and its recommendation to approve an

amendment of Article 12.1 of the Agreement to remove the statutory capital limitation on ordinary operations;

and

On the understanding that the Board of Directors will maintain an appropriate nominal leverage limit on

operations, set against relevant capital metrics, within the Bank’s capital adequacy framework, as part of its

responsibility to protect the financial soundness and sustainability of the Bank.

PUBLIC

RESOLVES THAT

1. Article 12.1 of the Agreement shall be amended by deleting its existing text and introducing a new text as

follows

"1. The Board of Directors shall establish and maintain appropriate limits with respect to capital adequacy

metrics, in order to protect the financial soundness and sustainability of the Bank."

2. Members of the Bank shall be asked whether they accept the said amendment by (a) executing and

depositing with the Bank an instrument stating that such member has accepted the said amendment in

accordance with its law and (b) furnishing evidence, in form and substance satisfactory to the Bank, that the

amendment has been accepted and the instrument of acceptance has been executed and deposited in

accordance with the law of that member.

3. The said amendment shall enter into force three (3) months after the date on which the Bank has formally

confirmed to its members that the requirements for accepting the said amendment, as provided for in Article 56

of the Agreement, have been met.

(Adopted 18 May 2023)

PUBLIC

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8 STATUTS BANQUE EUROPÉENNE D’INVESTISSEMENT - 2020

Article 4

1. La Banque est dotée d’un capital de 248 795 606 881 EUR, souscrit par les États membres à concurrence

des montants suivants

Allemagne

46 722 369 149

France

46 722 369 149

Italie

46 722 369 149

Espagne

28 033 421 847

Belgique

12 951 115 777

Pays-Bas

12 951 115 777

Pologne

11 366 679 827

Suède

8 591 781 713

Danemark

6 557 521 657

Autriche

6 428 994 386

Finlande

3 693 702 498

Grèce

3 512 961 713

Portugal

2 263 904 037

République tchèque

2 206 922 328

Hongrie

2 087 849 195

Irlande

1 639 379 073

Roumanie

1 639 379 073

Croatie

1 062 312 542

Slovaquie

751 236 149

Slovénie

697 455 090

Bulgarie

510 041 217

Lituanie

437 633 208

327 878 318

Chypre

321 508 011

Lettonie

267 076 094

Estonie

206 248 240

Malte

122 381 664

Les États membres ne sont responsables que jusqu’à concurrence de leur quotepart du capital souscrit et

non versé.

2. L’admission d’un nouveau membre entraîne une augmentation du capital souscrit correspondant à l’apport

du nouveau membre.

3. Le Conseil des gouverneurs, statuant à l’unanimité, peut décider une augmentation du capital souscrit.

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4. La quote-part du capital souscrit ne peut être ni cédée ni donnée en nantissement et est insaisissable.

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