IBRD’s 2018 General Capital Increase (GCI) and Selective Capital Increase (SCI) Reallocation Resolution - Resolution No. 718 - governs subscription and payment terms

Jul 19, 2026

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Resolution No. 718 of the International Bank for Reconstruction and Development addresses the reallocation of unsubscribed and unallocated capital stock arising from the 2018 General Capital Increase (GCI) and 2018 Selective Capital Increase (SCI). It authorizes eligible member countries listed in Annex 1 and Annex 2 to subscribe and pay up to specified share totals, using defined payment components in gold/US dollars and in freely convertible currency. Subscriptions must be completed via an acceptable Subscription Package by April 16, 2026, with documentation and note-payment mechanics governing implementation.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages5

Reading Time13 min

Resolution framework

Background under GCI and SCI Resolutions

Trigger for reallocation of unsubscribed shares

Authorized subscriptions and payment terms

Members authorized and share limits in Annexes

Subscription price and payment components (gold/US dollars and currency)

Submission of Subscription Package by deadline

Documentation acceptance and validity for completion

Payment via noninterest-bearing demand notes and supplemental payments

Public Disclosure Authorized Public Disclosure Authorized INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT BOARD OF GOVERNORS Resolution No. 718 IBRD’s 2018 General Capital Increase (GCI) and Selective Capital Increase (SCI) Reallocation of Unsubscribed and Unallocated Capital Stock WHEREAS by Resolution No. 663 entitled “2018 General Capital Increase” (the “GCI Resolution”) and Resolution No. 664 entitled “2018 Selective Capital Increase” (the “SCI Resolution” and, collectively with the GCI Resolution, the “Resolutions”), adopted by the Board of Governors on October 1, 2018, the authorized capital of the International Bank for Reconstruction and Development (the “Bank”) was increased by $60.1 billion in terms of United States Dollars, divided into 230,500 shares to 189 members under the GCI Resolution, and 267,943 shares to 187 members under the SCI Resolution, each having a par value of $120,635; WHEREAS the subscription and payment period for member countries to submit their Instruments of Subscription and Memorandums of Law (the “Subscription Package”) and make subscription payments ended on October 1, 2025, and member countries, as detailed in Annex 1 (“Allocated Shares under the GCI”) and Annex 2 (“Allocated Shares under the SCI”), that were either not able to submit or submitted an incomplete Subscription Package, or if submitted, could not complete subscription payments before the deadline of October 1, 2025, will be reallocated shares to complete the subscription process by April 16, 2026; WHEREAS in accordance with paragraph 5 of the GCI Resolution and paragraph 6 of the SCI Resolution respectively, any shares of capital stock remaining unsubscribed or unpaid after the dates prescribed under the Resolutions shall become part of the Bank’s unallocated capital stock; WHEREAS it would be consistent with the objectives ofthe 2018 Capital Increases to enable member countries to make payment in the aggregate to that number of shares which they would otherwise have been authorized to subscribe and pay on or before October 1, 2025, under the Resolutions; NOW THEREFORE, the Board of Governors hereby resolves as follows: 1. Each of the members of the Bank listed in Annex 1 and Annex 2 of this Resolution is authorized to subscribe and make payments up to the total number of shares set forth opposite its name in the tables contained therein, subject to the terms and conditions provided in this Resolution. 2. Each subscription authorized pursuant to paragraph 1 above shall be on the following terms and conditions: (a) The subscription price shall be par value; and (b) The subscribing member shall pay to the Bank: (i) in the case of the shares specified in Annex 1,(A) gold or United States dollars equal to 2%(two percent) of the subscription price of the shares subscribed; and (B) an amount in its own currency or any other currency equal to 18%(eighteen percent) of the subscription price; and (ii) in the case of the shares specified in Annex 2,(A) gold or United States dollars equal to 0.6%(six-tenths of one percent) of the subscription price of the shares subscribed; and (B) an amount in its own currency or any other currency equal to 5.4%(five and four-tenths percent) of such subscription price; provided in each case that such currency: (A) is paid in cash or in accordance with paragraph (e) below; and (B) is freely convertible for use in the Bank’s operations; (c) Each subscription shall be made by the subscribing member by depositing with the Bank not later than April 16, 2026, a Subscription Package, in a form acceptable to the Bank, whereby the member: (i) subscribes to the total number of shares specified in the Instrument of Subscription; (ii) represents to the Bank that it has taken all action necessary to authorize such subscription and to ensure the unrestricted and immediate usability by the Bank in its operations of the portion of the subscription price of shares paid in the

FAQs

What does Resolution No. 718 authorize for GCI and SCI capital stock?

It authorizes eligible member countries listed in Annex 1 and Annex 2 to subscribe and make payments for reallocated shares, using the terms and conditions set out in the resolution.

What is the deadline for submitting the Subscription Package and completing subscriptions?

Subscriptions and the required Subscription Package must be deposited with the Bank not later than April 16, 2026.

How are subscription payments calculated and what currencies are involved?

The subscription price equals par value, with specified percentages payable in gold or US dollars and the remainder in the member’s own currency or other currency, provided the currency is paid in cash and is freely convertible for use in the Bank’s operations.

Jul 19, 2026

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