Explanatory note

This Order approves the payment to the Inter-American Development Bank (“the Bank”) of a subscription not exceeding in the aggregate the equivalent of 16,370,078 United States Dollars to the increased authorised capital stock of the Bank. Resolution AG 7/10 adopted by the Board of Governors of the Bank on 21st July 2010 recommended that the authorised capital stock be increased and that the members of the Bank should take action to enable it to adopt the proposed resolution titled “Increase of US $70 Billion in the Authorised Ordinary Capital Stock and Subscriptions Thereto”. That proposed resolution is annexed to the Bank’s Report on the Ninth General Capital Increase in the resources of the Inter-American Development Bank. The payment approved by this Order will be made pursuant to arrangements set out in a resolution adopted by the Board of Governors of the Bank that is materially identical to that proposed resolution.

The Order further provides that the Secretary of State may make payments to maintain the value of the subscription to the increased authorised capital stock. It also provides that the Secretary of State may make payments to redeem any non-interest-bearing and non-negotiable notes issued by the Secretary of State in payment of this subscription.

An impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

The provisions of Resolution AG 7/10 and the Bank’s Report on the Ninth General Capital Increase mentioned in this Order may be obtained by application to the Department for International Development, 1 Palace Street, London SW1E 5HE.