INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT BOARD OF GOVERNORS Resolution No. 416 Increase in Subscription of Certain Members to Capital Stock RESOLVED: THAT, considering the report of the Executive Directors dated February 24, 1987, and pursuant to Article II, Section 3(b) of the Articles of Agreement of the Bank, the Bank is hereby authorized to accept additional subscriptions to shares of its capital stock upon the following conditions: 1. Each of the members of the Bank listed in the table below may subscribe up to the number of shares of capital stock of the Bank set forth opposite its name: Canada 1,382 India 717 Italy 2,544 Japan 11,796 Korea 393 Netherlands 2,544 provided, however that members may subscribe shares only after: (i) the Bank has dispatched notification to the members that the United States will not subscribe 15,722 shares which it is authorized to subscribe by a resolution or resolutions adopted by the Board of Governors before the date this resolution is adopted; and (ii) with respect to the shares to be subscribed by Korea and 614 of the shares to be subscribed by the Netherlands, that the Bank shall have dispatched notification to the said members that they may subscribe such shares as decided by the Executive Directors on the basis of a determination by the Executive Directors that shares are available for the purpose. 2. Each subscription authorized pursuant to paragraph 1 above, shall be on the following terms and conditions: (a) the subscription price per share shall be par; (b) a member may subscribe from time to time prior to a date 29 months after the date of dispatch of the notification referred to in paragraph 1(i) (or, with respect to shares to which paragraph 1(ii) above applies, the date of the dispatch of the notification referred to in said paragraph 1(ii)), or such later date as the Executive Directors may determine; IBRD Resolution No. 416 Page 2 of 2 (c) the subscribing member shall pay to the Bank under Article II, Section 7(i) of the Bank’s Articles of Agreement (i) gold or United States dollars equal to 0.875 percent of the subscription price of the shares subscribed and (ii) an amount in its own currency equal to 7.875 percent of such subscription price; (d) the Bank shall call the amounts of subscriptions payable under the said Article II, Section 7(i), which are not required to be paid under paragraph 2(c) above, only when required to meet obligations of the Bank for funds borrowed or on loans guaranteed by it, and not for use by the Bank in its lending activities or for administrative expenses; and (e) before any subscription shall be accepted by the Bank, the following action shall have been taken: (i) the member shall have taken all action necessary to authorize such subscription and shall furnish to the Bank such information thereon as the Bank may request; and (ii) the members shall have made the payments provided for in paragraph 2(c) above. (Adopted on April 13, 1987)