The Agreement Which Created The World Bank

The ICSID Convention was founded on a multilateral agreement and entered into force on 14 October 1966. 86, paragraph 86, broches also stated that it was useful to establish in the same way the relevant provision of Regulations No 3 and No 4 on loans which apply to loan agreements with members or non-members (and not differently to reflect the different types of borrowers in both cases), given that, in many cases, the World Bank has provided a loan to a non-member; “The transaction could just as well take the form of a loan to the member government,” id., and that “the world bank`s legal position should be substantially the same, regardless of the technique employed.” Id. at 353. The parties to the loan agreement and the guarantee agreement shall endeavour to settle amicably any disputes or controversies between them arising out of or in connection with such agreements. . . .

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