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’’);
Whereas, the MIF I Agreement was renewed until December 31, 2007 pursuant to Article V, Section 2 thereof;
Whereas, in recognition of the need in the Latin American and Caribbean region to develop effective approaches to increase private investment and advance private sector development, improve the business environment and support micro and small enterprises in order to support economic growth and poverty reduction, the donors that adhered to the MIF I Agreement and the prospective donors listed in Schedule A of this Agreement Establishing the Multilateral Investment Fund II (the ‘‘MIF II Agreement’’) (each, a ‘‘Prospective Donor’’) desire 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 Inter-American Development Bank (the ‘‘Bank’’), which shall have assumed the assets and liabilities of the MIF I; and
Whereas, the Prospective Donors intend for the MIF II to continue to complement the work of the Bank, the Inter-American Investment Corporation (the ‘‘IIC’’) and other multilateral development banks pursuant to the terms contemplated herein, and the administration of the MIF II by the Bank to continue pursuant to the Agreement for the Administration of the Multilateral Investment Fund II dated the date hereof (the ‘‘MIF II Administration Agreement’’).
Now, therefore, the Prospective Donors hereby agree as follows: