International Development Association - Board of Governors Resolution No. 253 - Membership of Suriname - Adopted on May 7, 2024

Jul 19, 2026

Board of Governors Resolution No. 253 approves the terms and conditions for Suriname’s admission to membership in the International Development Association. The resolution sets the framework for subscriptions, including the initial subscription amount and its payment composition, and specifies how votes are allocated upon subscription. It defines the effective membership date through required payments, acceptance of the Articles and resolution obligations, and signing the original Articles. It also establishes a deadline for fulfilling membership requirements and authorizes additional subscriptions under defined financial and voting terms.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages2

Reading Time5 min

Resolution Overview

Admission Terms and Definition of Key Terms

Initial Subscription and Vote Allocation

Effective Date of Membership Requirements

Deadline for Fulfilling Membership Requirements

Additional Subscriptions and Related Terms

Public Disclosure Authorized Public Disclosure Authorized INTERNATIONAL DEVELOPMENT ASSOCIATION BOARD OF GOVERNORS Resolution No. 253 Membership of Suriname WHEREAS Suriname has applied for membership in the International Development Association (“the Association”) in accordance with Section 1(b) of Article II of the Articles of Agreement of the Association; WHEREAS, pursuant to Section 9 of the By-Laws of the Association, the Executive Directors, after consultation with representatives of Suriname, have made recommendations to the Board of Governors regarding this application; NOW, THEREFORE, the Board of Governors hereby RESOLVES: THAT the terms and conditions upon which Suriname shall be admitted to membership in the Association shall be as follows: 1. Definition: As used in this Resolution: (a) "Association" means International Development Association. (b) "Articles" means the Articles of Agreement of the Association. (c) "Dollars" or "$" means dollars in currency of the United States of America. 2. Initial Subscription: (a) The terms and conditions of the membership of Suriname in the Association other than those specifically provided for in this Resolution shall be those set forth in the Articles with respect to the membership of original members listed in Part II of Schedule A thereof (including, but not by way of limitation, the terms and conditions relating to subscriptions, payments on subscription, usability of currencies and voting rights) . (b) Upon accepting membership in the Association, Suriname shall subscribe funds in the amount of $90,000 expressed in terms of United States Dollars of the weight and fineness in effect on January 1, 1960, that is to say, pursuant to the decision of the Executive Directors of the Association of June 30, 1986 on the valuation of initial subscriptions, $108,572 in current United States Dollars, and shall pay the latter amount to the Association as follows: (a) ten percent either in gold or in a freely convertible currency, and (b) ninety percent in the currency of Suriname. As of the date Suriname will become a member of the Association, 518 votes shall be allocated to Suriname in respect of such subscription, consisting of 18 subscription votes and 500 membership votes. 3. Effective Date of Membership: Suriname shall become a member of the Association with a subscription as set forth in paragraph 2(b) of this Resolution as of the date when Suriname shall have complied with the following requirements: (a) made the payments called for by paragraph 2 of this Resolution; (b) deposited with the International Bank for Reconstruction and Development an instrument stating that it has accepted in accordance with its laws the Articles and all the terms and conditions prescribed in this Resolution, and that it has taken all steps necessary to enable it to carry out all its obligations under the Articles and this Resolution; and (c) signed the original Articles held in the archives of the International Bank for Reconstruction and Development. 4. Limitation on Period for Fulfillment of Requirements of Membership: Suriname may fulfill the requirements for membership in the Association pursuant to this Resolution until December 31, 2024, or such later date as the Executive Directors of the Association may determine. 5. Additional Subscriptions: Upon or after acceptance of membership, Suriname shall also be authorized to make additional subscriptions in the amount of $45,996, comprising subscriptions corresponding to the Third through Twentieth Replenishments, and to the Multilateral Debt Relief Initiative which shall carry 64,160 votes, calculated on the basis of 1,714 subscription votes and 62,446 membership votes, and which shall be subject to the following terms and conditions: (a) Payment of such additional subscriptions shall be made in the currency of Suriname within thirty days after Suriname notifies the Association of its intention to mak

FAQs

What is the purpose of Resolution No. 253 regarding Suriname?

It sets the terms and conditions for Suriname’s admission to membership in the International Development Association.

What conditions must be met for Suriname’s membership to become effective?

Suriname must make the required payments, deposit an acceptance instrument with the International Bank for Reconstruction and Development, and sign the original Articles held in its archives.

Are there limits and timelines for fulfilling membership requirements?

Yes. Suriname may fulfill the requirements up to December 31, 2024, or a later date the Executive Directors may determine.

Jul 19, 2026

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