TNAG-2815-FCO40-4061-Future-of-Hong-Kong-International-Rights-and-Obligations-(IR-1993 — Page 70

HOW DE 23 E010E LIEL

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November 1, 1993

MEMORANDUM OF UNDERSTANDING

F.10 15

DRAFT

[date]

With reference to the invitation of the People's Republic of China,

supported by the Government of the United Kingdom, to hold the 1997 Annual

Meetings of the World Bank Group and the International Monetary Fund in

Hong Kong, this memorandum sets forth the understanding between the

International Monetary Fund and the World Bank Group 1/ (collectively, the

"Organizations"), the Government of the United Kingdom and the Government of

the People's Republic of China (collectively, the "Governments") regarding

the arrangements for the 1997 Annual Meetings. It will become effective

upon the adoption of resolutions by the Boards of Governors of the

respective Organizations to hold the aforesaid Meetings in Hong Kong.

1. Purpose

The Organizations and the Governments recognize the need to start the

preparation of the 1997 Annual Meetings well in advance of the date set for

such meetings and to agree on the basic responsibilities of each party in

this task, consistent with the Joint Declaration of the Governments on the

1 The World Bank Group consists of the International Bank for Reconstruction and Development, the International Finance Corporation, the International Development Association, the International Centre for Settlement of Investment Disputes, and the Multilateral Investment Guarantee Agency.

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