IBRD Articles of Agreement

The IBRD Articles of Agreement are also available in PDF format (213 KB)

(As amended effective June 27, 2012)

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 I: Purposes

ARTICLE II: Membership in and Capital of the Bank

  • SECTION 1. Membership 
  • SECTION 2. Authorized Capital
  • SECTION 3. Subscription of Shares
  • SECTION 4. Issue Price of Shares
  • SECTION 5. Division and Calls of Subscribed Capital
  • SECTION 6. Limitation on Liability
  • SECTION 7. Method of Payment of Subscriptions for Shares
  • SECTION 8. Time of Payment of Subscriptions
  • SECTION 9. Maintenance of Value of Certain Currency Holdings of the Bank
  • SECTION 10. Restriction on Disposal of Shares

ARTICLE III: General Provisions Relating to Loans and Guarantees

  • SECTION 1. Use of Resources
  • SECTION 2. Dealings between Members and the Bank
  • SECTION 3. Limitations on Guarantees and Borrowings of the Bank
  • SECTION 4. Conditions on which the Bank may Guarantee or Make Loans
  • SECTION 5. Use of Loans Guaranteed, Participated in or Made by the Bank
  • SECTION 6. Loans to the International Finance Corporation

ARTICLE IV: Operations

  • SECTION 1. Methods of Making or Facilitating Loans
  • SECTION 2. Availability and Transferability of Currencies
  • SECTION 3. Provision of Currencies for Direct Loans
  • SECTION 4. Payment Provisions for Direct Loans
  • SECTION 5. Guarantees
  • SECTION 6. Special Reserve 
  • SECTION 7. Methods of Meeting Liabilities of the Bank in Case of Defaults
  • SECTION 8. Miscellaneous Operations
  • SECTION 9. Warning to be Placed on Securities
  • SECTION 10. Political Activity Prohibited

ARTICLE V: Organization and Management

  • SECTION 1. Structure of the Bank
  • SECTION 2. Board of Governors
  • SECTION 3. Voting
  • SECTION 4. Executive Directors
  • SECTION 5. President and Staff
  • SECTION 6. Advisory Council
  • SECTION 7. Loan Committees
  • SECTION 8. Relationship to Other International Organizations
  • SECTION 9. Location of Offices
  • SECTION 10. Regional Offices and Councils
  • SECTION 11. Depositories 
  • SECTION 12. Form of Holdings of Currency
  • SECTION 13. Publication of Reports and Provision of Information
  • SECTION 14. Allocation of Net Income

ARTICLE VI: Withdrawal and Suspension of Membership: Suspension of Operations

  • SECTION 1. Right of Members to Withdraw
  • SECTION 2. Suspension of Membership
  • SECTION 3. Cessation of Membership in International Monetary Fund
  • SECTION 4. Settlement of Accounts with Governments Ceasing to be Members
  • SECTION 5. Suspension of Operations and Settlement of Obligations

ARTICLE VII: Status, Immunities and Privileges

  • SECTION 1. Purposes of the Article
  • SECTION 2. Status of the Bank
  • SECTION 3. Position of the Bank with Regard to judicial Process
  • SECTION 4. Immunity of Assets from Seizure
  • SECTION 5. Immunity of Archives
  • SECTION 6. Freedom of Assets from Restrictions
  • SECTION 7. Privilege for Communications
  • SECTION 8. Immunities and Privileges of Officers and Employees
  • SECTION 9. Immunities from Taxation
  • SECTION 10. Application of Article

ARTICLE VIII: Amendments

ARTICLE IX: Interpretation

ARTICLE X: Approval Deemed Given

ARTICLE XI: Final Provisions

  • SECTION 1. Entry into Force
  • SECTION 2. Signature
  • SECTION 3. Inauguration of the Bank

DONE at Washington, in a single copy which should remain deposited in the archives of the Government of the United States of America, which shall transmit certified copies to all governments whose names are set forth in Schedule A and to all governments whose membership is approved in accordance with Article II, Section 1 (b).

SCHEDULE A: Subscriptions

SCHEDULE B: Election of Executive Directors


Last Updated: Nov 03, 2018