Whereas, the Multilateral Investment Fund (the ‘‘MIF I’’) was created by the Agreement Establishing the Multilateral Investment Fund, dated February 11, 1992 (the ‘‘MIF I Agreement’’), and is administered by the Inter-American Development Bank (the ‘‘Bank’’) pursuant to the Agreement for the Administration of the Multilateral Investment Fund dated the date thereof (the ‘‘MIF I Administration Agreement’’);
Whereas, the MIF I Agreement was renewed until December 31, 2007 pursuant to Article V, Section 2 thereof;
Whereas, the MIF I Administration Agreement was concurrently renewed, and shall remain in force as long as the MIF I Agreement remains in force, as contemplated in Article VI, Section 2 thereof;
Whereas, as of the date hereof, the Agreement Establishing the Multilateral Investment Fund II (the ‘‘MIF II Agreement’’) has been entered into by the prospective donors listed in Schedule A thereto (each, a ‘‘Prospective Donor’’ and, upon adherence thereto as contemplated in Article II, Section 1(a) thereof, a ‘‘Donor’’), to ensure the continuation of the MIF I’s activities beyond December 31, 2007 and provide for an enhanced MIF I (the ‘‘MIF II’’ or the ‘‘Fund’’) in the Bank;
Whereas, the Prospective Donors also wish to adopt this Agreement for the Administration of the Multilateral Investment Fund II (the ‘‘MIF II Administration Agreement’’), which, upon the entry into force of the MIF II Agreement, shall replace the MIF I Administration Agreement;
Whereas, the Fund can continue to complement the work of the Bank, the Inter-American Investment Corporation (the ‘‘IIC’’) and other multilateral development banks pursuant to the terms of the MIF II Agreement; and
Whereas, the Bank, to fulfill its purposes and in pursuit of its objectives, has agreed to continue to administer the Fund pursuant to and in accordance with the MIF II Agreement.
Now, therefore, the Bank and the Prospective Donors hereby agree as follows: