
1 

(1) This Order may be cited as the European Bank for Reconstruction and Development (Further Payments to Capital Stock) Order 2024 and comes into force on the day after the day on which it is made.
(2) This Order extends to England and Wales, Scotland and Northern Ireland.
2 
In this Order—
 “the Bank” means the European Bank for Reconstruction and Development established by agreement dated 29th May 1990 and ratified by the Government of the United Kingdom on 10 August 1990;
 “the Resolution” means Resolution No. 265 adopted by the Board of Governors of the Bank on 15th December 2023 entitled “Increase in authorised capital stock and subscriptions thereto”.
3 
In accordance with section 11 of the International Development Act 2002, the Minister may, on behalf of the Government of the United Kingdom—
(a) make further payments to the capital stock of the Bank not exceeding in aggregate 343,600,000 euros in accordance with arrangements made between the Government and the Bank in accordance with the Resolution, and
(b) make payment of sums required to redeem any non-interest-bearing and non-negotiable notes or other obligations which may be issued or created by the Minister and accepted by the Bank pursuant to the arrangements mentioned in paragraph (a).
Jeff Smith
Vicky Foxcroft
Two of the Lords Commissioners of His Majesty’s Treasury
16th December 2024