Document ID: chunk:federal_register_of_legislation:C2020C00320:schedule:1:p10
Version: federal_register_of_legislation:C2020C00320
Segment Type: schedule
Provision Reference: sch 1 (pt 10/31)
Character Range: 27383–30438

contingent liabilities should be recommended to the Council. The maximum amount determined by the Council shall not under any circumstances exceed five times the amount of the Agency's unimpaired subscribed capital, its reserves and such portion of its reinsurance cover as may be deemed appropriate.

 (b)  Without prejudice to the general limit of guarantee referred to in Section (a) above, the Board may prescribe:
 (i) maximum aggregate amounts of contingent liability which may be assumed by the Agency under this Chapter for all guarantees issued to investors of each individual member. In determining such maximum amounts, the Board shall give due consideration to the share of the respective member in the capital of the Agency and the need to apply more liberal limitations in respect of investments originating in developing member countries; and
 (ii) maximum aggregate amounts of contingent liability which may be assumed by the Agency with respect to such risk diversification factors as individual projects, individual host countries and types of investment or risk.

Article 23.   Investment Promotion

 (a)  The Agency shall carry out research, undertake activities to promote investment flows and disseminate information on investment opportunities in developing member countries, with a view to improving the environment for foreign investment flows to such countries. The Agency may, upon the request of a member, provide technical advice and assistance to improve the investment conditions in the territories of that member. In performing these activities, the Agency shall:
 (i) be guided by relevant investment agreements among member countries;
 (ii) seek to remove impediments, in both developed and developing member countries, to the flow of investment to developing member countries; and
 (iii) coordinate with other agencies concerned with the promotion of foreign investment, and in particular the International Finance Corporation.

 (b)  The Agency also shall:
 (i) encourage the amicable settlement of disputes between investors and host countries;
 (ii) endeavor to conclude agreements with developing member countries, and in particular with prospective host countries, which will assure that the Agency, with respect to investment guaranteed by it, has treatment at least as favorable as that agreed by the member concerned for the most favored investment guarantee agency or State in an agreement relating to investment, such agreements to be approved by special majority of the Board; and
 (iii) promote and facilitate the conclusion of agreements, among its members, on the promotion and protection of investments.

 (c)  The Agency shall give particular attention in its promotional efforts to the importance of increasing the flow of investments among developing member countries.

Article 24.   Guarantees of Sponsored Investments

 In addition to the guarantee operations undertaken by the Agency under this Chapter, the Agency may guarantee investments under the sponsorship arrangements provided for in Annex