World Bank Standard Loan Agreement

143 See THE EBRD September 1994 STCs, note 109, 4.02 a). An indication of how the World Bank and AfDB loan contracts have reflected growing concerns about the impact of MDB-funded projects, see the Asian Development Bank, Environmental Document 10, Environmental Credit Pacts: Contributing to the Environmental Strength of Projects Supported by the Asian Development Bank 9-27 (1992). 10 See z.B. Proposes the plan of the Bulgarian Refining Committee, Fin. Times E. Eur. Energy Rep. (London), September 1992, in LEXIS/NEXIS, WORLD Library, ALLNWS File (rectifies that the Bulgarian refinery Neftochim has proposed suspending payments for a World Bank loan in order to strengthen the company`s finances); Raul Ronzoni, Uruguay: Leftists Struggle to Unite Before 1994 Elections, Inter Press Service, 16 November 1993, available in the ID, the CURNWS file (with the sign of a member of the Uruguayan left-wing coalition in favour of “non-payment of external debt”). Perhaps the most public threat in this regard came in 1987, when Romania threatened to suspend the repayment of its $1.9 billion debt to the World Bank. See Jan Krcmar, Romania threatens to suspend the repayment of the World Bank`s debt, Reuters, December 3, 1987, available in the id., ALLNWS File.

In recent years, there have been several cases of such suspensions. See z.B. Panama Holding Debt Talks in New York-Banker, Reuters, March 21, 1995, available in id. (with the note service that “Panama suspended all external debt payments in 1987, but entered into restructuring agreements with lenders in 1987); Congo Pays Off World Bank Loan Rears, Reuters, July 1, 1994, available in id. (under the embezzlement of Congo`s arrears of about $100 million to the World Bank); Zambia: Government Country 50m Dollars Rears to World Bank, British Broadcasting Corp., Feb. 11, 1992, available in id. (discussion of Zambia`s arrears to the World Bank); Nicaraguan officials will meet with the World Bank, Reuters, on 24 July 1991, available in id. (under the guise of Nicaragua`s arrears of payment to the World Bank); Peru craves Grand Amortization; Citi to Lend 1 Billion Bridge, Am.

Banker-Bond Buyer, 30 November 1992, available in LEXIS/NEXIS, BANKING Library, ALLNWS File (view of Peru`s arrears at the World Bank). The list of World Bank member countries that lag behind in their loans to the World Bank from mid-1994 is 168 in the 1994 WB report, note 8. How does current legislation provide for loan contracts by the World Bank and other multilateral development banks (MDBs) as part of the implementation of their public sector loans? This issue was finally addressed for the first time about 35 years ago. This article again addresses this issue in the light of the latest practical developments, in particular the recent MDB, the European Bank for Reconstruction and Development (EBRD). 127 As the text of provision 80 indicated, the most common view in 1959 was that an agreement with a non-governmental entity as a party could not have international law as a law in force.