Communication from the Ministry of Foreign Affairs No 446 / 2025 Coll.
Communication from the Ministry of Foreign Affairs on the negotiation of the Agreement between the Government of the Czech Republic and the International Bank of Economic Cooperation on the final settlement of mutual claims and liabilities in connection with the denunciation of the Agreement on the establishment and operation of the International Bank of Economic Cooperation by the Czech Republic and the termination of its membership
Valid
International Treaty
Effective from 16.05.2025
Text versions:
06.11.2025
446
COMMUNICATION
Ministry of Foreign Affairs
on the negotiation of the Agreement between the Government of the Czech Republic and the International Bank of Economic Cooperation on the final settlement of mutual claims and liabilities in connection with the termination of the Agreement on the establishment and operation of the International Bank of Economic Cooperation by the Czech Republic
The Ministry of Foreign Affairs announces that on 16 May 2025 an Agreement was signed in Moscow between the Government of the Czech Republic and the International Bank of Economic Cooperation on the final settlement of mutual claims and obligations in connection with the termination of the Agreement on the establishment and operation of the International Bank of Economic Cooperation by the Czech Republic and its membership, adopted in Moscow on 22 October 1963, as amended by Protocol 1).
The Agreement entered into force on the basis of Article 12 thereof on the date of signature.
The English version of the Agreement and its translation into the Czech language are announced simultaneously.
Minister:
v z. Mgr. Šlais v. r.
Head of Legal and Consular Section
Příloha č. 1
Annex No 1
Translation of international contract into Czech language
AGREEMENT
between the Government of the Czech Republic
United Kingdom
International Bank of Economic Cooperation
on the final settlement of mutual claims and liabilities in connection with the denunciation of the Agreement on the establishment and operation of the International Bank of Economic Cooperation by the Czech Republic and the termination of its membership
The Government of the Czech Republic, hereinafter referred to as "the Czech Party ', and the International Bank of Economic Cooperation, hereinafter referred to as" the Bank' or "MBHS ', and both parties hereinafter referred to as" the Parties', have agreed to the following in order to finalise all claims and liabilities between the Czech Republic and the Bank.
Article 1
The subject of this Agreement is the final settlement of mutual claims and liabilities between the Czech Republic and the Bank in connection with the denunciation of the Agreement on the establishment and operation of the International Bank of Economic Cooperation concluded on 22 October 1963 by the Czech Republic and the termination of its membership.
Article 2
The Parties confirm their commitments in accordance with Article 5 of the Act of MBHS.
Article 3
The contribution of the Czech Republic paid as a share in the capital of the Bank amounts to EUR 26,684,130.
Article 4
4.1 Final settlement of mutual financial claims and liabilities between the Czech Republic and the Bank will be carried out through:
- annual instalments of the Czech Republic's share of the paid-up capital by the Bank in accordance with the following repayment schedule:
year payment in EU2025171,427.132026311,913.332027367,289.942028432,498.032029509,283.062030599,700.3831706,170.252032831,542.622033979,173.4120341,153,014.3320351,357,718.7120361,598,765.9820371,882,608.4120382,216,843.7820392,610,418.7820403,073,868.4820413,619,598.3120424,262,295.07Celek26,684,130.00
- the subsequent waiver of debts of the Bank towards the Czech Republic concerning its liabilities.
4.2 The Bank shall make annual payments by 30 June of the year at the latest.
Article 5
Czech Republic:
5.1 It will accept the bank's commitment to return its share of MBHS capital to the Czech Republic according to the procedure and under the conditions set out here.
5.2. For the purposes of this Agreement, it shall recognise, within its territory and within its national jurisdiction, the legal personality of MBHS as an international intergovernmental financial organisation.
5.3 Within one month of the signature of this Agreement, the Bank shall send a notification with payment instructions for receipt of payments in all currencies, including those referred to in Article 6 (6.4). In the event of a change in payment instructions, it shall send new information for receipt of payments immediately, but not later than one month before the date of the payment concerned. Payment shall be deemed to have been properly executed if the Bank is not informed of a change in payment instructions within the above deadline.
Article 6
6.1 The Bank will make annual payments to the Czech Party in accordance with Article 4 of the Agreement using the instructions provided by the Czech Party in accordance with Article 5 (5.3) of the Agreement.
6.2 If it is not possible to make a payment in euro for reasons outside the control of the Banks, the Parties undertake to agree on a mutually acceptable payment currency (hereinafter referred to as the "Payment Currency ') no later than 5 (5) working days before the date of the subsequent payment.
6.3 If the Bank makes a payment in the agreed currency of payment, the amount to be paid in the currency of payment shall be determined as equivalent to the amount in euro calculated on the basis of the exchange rate established by the European Central Bank (hereinafter referred to as "the ECB") published on the ECB's official website at 16.00 Central European Time 3 (three) working days preceding the date of payment, except for TARGET2 or the payment system of the Russian Central Bank or the payment system of the currency in which the Bank has decided to make the payment in accordance with paragraph 6.4 of this Article. If the ECB does not publish the euro exchange rate to the currency of the payment, the amount of payment in the currency of the payment shall be determined on the basis of the final (cross) rates 3 (three) working days preceding the date of payment published by Bloomberg on its official website.
6.4 Without prejudice to paragraph 6.2 of this Article, for the period up to and including 2028, unless it is possible to make a payment in euro for reasons beyond the control of the Bank, the Bank may, without the prior agreement of the Czech Party, make a payment in one of the following currencies: US dollar (USD), Swiss franc (CHF), Chinese yuan renminbi (CNY) ("pre-agreed payment currencies'). If the Bank makes a payment in one of the pre-agreed payment currencies referred to in the previous sentence, the amount to be paid shall be determined by the Bank in accordance with the procedure referred to in paragraph 6.3 of this Article and the Bank shall inform the Czech Party of the amount no later than 2 (two) working days before the date of payment.
Article 7
7.1. The Bank shall be entitled to make an earlier full or partial annual payment. The Bank shall send a written notification at least 20 (20) working days before the expected transfer date. The written notice of early transfer shall include the name, the data on the document to be sent and its date, the reference to the Agreement, the date of early payment, the amount of early full or partial payment, as well as the bank account data to which the last payment will be made.
7.2 An early full or partial instalment shall adequately reduce the amount of the next annual instalment. If the amount of the prepayment exceeds the amount of the next annual instalment, the amount and other annual instalments shall be reduced until the amount of the prepayment is reached.
Article 8
8.1 The Bank shall not be liable for non-compliance with the repayment schedule and payment conditions set out in Article 4 of this Agreement if such breach is due to exceptional, unforeseeable and unavoidable circumstances beyond its control which could not reasonably be foreseen at the time of conclusion of this Agreement, or prevent or overcome them under the conditions and which prevent the performance of the Bank's obligations ("circumstances of force majeure").
8.2 Paragraph 8.1 of this Article shall not apply where circumstances of force majeure may be attributed separately or in combination with other factors to the conduct of the Bank.
In order to ensure greater certainty, the concept of "conduct 'will include, but is not limited to, negligence, intentional misconduct or any omission to take appropriate measures to prevent or mitigate the impact of such circumstances.
8.3 If circumstances of force majeure arise, the Bank shall notify the Czech Party of the occurrence of the event as soon as possible, indicating the nature and expected duration of the event.
8.4 In the event of a dispute over the occurrence of circumstances of force majeure referred to in paragraph 8.1 of this Article, the arbitration panel established under Article 11 of this Agreement shall decide.
8.5 If circumstances of force majeure arise, the deadlines for fulfilling the commitments of the Bank shall be postponed for the duration of those circumstances of force majeure.
Article 9
Where any of the payments referred to in Article 4: The agreements shall be delayed for a reason other than the circumstances of force majeure as defined in Article 8, the Bank shall pay the Czech Party interest on the amount to be received by the Czech Party but not received, calculated for each day of delay at the Euribor interest rate plus 1,05 percentage points. If Euribor ceases to be listed, it should be replaced by its successor; in case of doubt, the exchange rate chosen to replace Euribor shall be used by the European Central Bank in its operations. If such a rate is not available, Euribor will be replaced by 2,94% and interest will be calculated at 3,99%.
Article 10
From the date of entry into force of this Agreement, relations between the Czech Republic and the Bank shall be deemed to be fully settled in relation to any claims and obligations which may arise and no Contracting Party shall have any claim against the other Contracting Party, except for the obligations under this Agreement.
Article 11
11.1 Any dispute arising from or in connection with this Agreement shall be dealt with by the Parties by mutual consultation and conciliation. In the event that the Parties do not reach agreement within 60 (60) calendar days from the date on which one of the Parties receives written notification of the hearing from the other Party, the arbitration panel - established and operating in accordance with UNCITRAL Arbitration Rules - will deal with the matter in question in order to resolve a particular dispute and consisting of three designated arbitrators. One arbitrator shall be appointed by the Czech Republic and the other by the Bank and the two arbitrators thus designated together shall elect a third arbitrator who shall act as President of the arbitrator. If one of the Parties does not appoint an arbitrator within 30 (30) days of the written notification of the other Party of appointment, or if the designated arbitrators do not reach an agreement to appoint a third arbitrator (chair of the arbitrator) within 30 (30) days of the appointment of the other arbitrator, the arbitrator appointed by the Party or third arbitrator shall be appointed as President of the International Court of Justice of the United Nations.
11.2. None of the Parties shall invoke its immunity to jurisdiction in proceedings before an arbitration panel established pursuant to paragraph 11.1 of this Article.
11.3. The Bank shall hereby waive any right to immunity in respect of the jurisdiction and enforcement of a decision to which it may otherwise be entitled in respect of the exercise of any decision given by an arbitration panel established pursuant to paragraph 11.1 of this Article.
Article 12
This Agreement shall enter into force on the date of signature by both Parties.
Done at Moscow, 16 May 2025, in two original copies in English.
For the Government of the Czech Republic For the International Bank of Economic Cooperation Jan Ondříka v. r. Denis Yurievich Ivanov v. r.rad Ambassador Embassy of the Czech Republic in the Russian Federation Unenbat Jigjid v. r. member of the Board of Directors
Příloha č. 2
Annex No 2
Text of the international contract in the relevant language
1) The Agreement on multilateral settlement in transferable roubles and the establishment of the International Bank of Economic Cooperation, adopted in Moscow on 22 October 1963, was published under No 175 / 1964 Coll. The Protocol on Amendments to the Agreement on Multilateral Settlement in Transferable roubles and on the Establishment of the International Bank of Economic Cooperation, adopted in Moscow on 18 December 1970, was published under No 86 / 1975 Coll. The Protocol amending the Agreement on the establishment and operation of the International Bank of Economic Cooperation of 22 October 1963 (including the amendments made pursuant to the Protocol of 18 December 1970, the Protocol of 23 November 1977 and the Protocol of 18 December 1990) and the Statute of the International Bank of Economic Cooperation (including the amendments made pursuant to the Protocol of 18 December 1970, the Protocol of 23 November 1977 and the Protocol of 18 December 1990), adopted in Warsaw on 25 November 2014, has been published under No 3 / 2021 Coll.., denunciation of the Agreement on the establishment and operation of the International Bank of Economic Cooperation of the Czech Republic has been published under No 36 / 2022 Coll.
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Regulation Information
| Citation | Communication from the Ministry of Foreign Affairs No 446 / 2025 Coll., on the negotiation of the Agreement between the Government of the Czech Republic and the International Bank of Economic Cooperation on the final settlement of mutual claims and liabilities in connection with the termination of the Agreement on the Establishment and Activities of the International Bank of Economic Cooperation by the Czech Republic and its membership |
|---|---|
| Regulation Type | International Treaty |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 06.11.2025 |
|---|---|
| Effective from | 16.05.2025 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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