Regulatory Alerts2015-06-09 | RESOLUCIÓN DE DIRECTORIO N° 090/2015Added · Updated
Board Resolution No. 090/2015
The Board of Directors of the Central Bank of Bolivia authorizes the establishment of the Plurinational Mother Earth Fund Trust and empowers the President of the Central Bank to sign the trust agreement with the Plurinational Authority of Mother Earth as the settlor. This resolution designates the Central Bank as the trustee of the fund, replacing the previous trustee, and identifies the Bolivian population as the beneficiary. The Presidency and General Management are tasked with executing and ensuring compliance with this resolution.
16.313CIV/re, ( CA-wind C7/3- tO/ rer/r,,le, BOARD RESOLUTION NO. 090/2015
SUBJECT: INTERNATIONAL OPERATIONS MANAGEMENT - APPROVES THE CONSTITUTION OF THE MOTHER EARTH FUND TRUST AND AUTHORIZES THE MR. PRESIDENT OF THE BCB TO SIGN THE TRUST CONSTITUTION CONTRACT WITH THE PLURINATIONAL AUTHORITY OF MOTHER EARTH.
HAVING SEEN:
Law No. 1670 of October 31, 1995, of the Central Bank of Bolivia (BCB). The BCB Statute approved by Board Resolution No. 128/2005 of October 21, 2005, and subsequent modifications. Law No. 300 "Framework Law of Mother Earth and integral development for living well" of October 15, 2012. Supreme Decree No. 1696 of August 14, 2013. Supreme Decree No. 2389 of June 3, 2015. The Report from the International Operations Management BCB-GOI-INF-2015-9 of June 5, 2015. The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2015-218 of June 8, 2015.
CONSIDERING:
That according to article 29, clause 0 of Law No. 1670, the Central Bank of Bolivia may carry out trust operations.
That Law No. 300 "Framework Law of Mother Earth and integral development for living well" promulgated on October 15, 2012, provides in its article 15 for the creation of the Plurinational Mother Earth Fund as a financial mechanism under the dependence of the Plurinational Authority of Mother Earth (APMT), to channel and assign financial resources in support of the realization of plans, programs, projects, initiatives, actions, and activities for climate change mitigation and adaptation.
That Supreme Decree No. 1696, which regulates the functioning of the APMT, its operational mechanisms, and the trust modality of the FPMT, establishes in its article 21 that the settlor of the FPMT shall be the APMT and the trustee shall be Banco Union.
That Supreme Decree No. 2389 modifies article 21 of D.S. 1696, providing that the BCB shall be the trustee of the Trust and that the Bolivian population is the beneficiary thereof.
That the International Operations Management, through Report BCB-GOI-INF-2015-9, recommends to the Institution's Board that it authorize the constitution of the Plurinational Mother Earth Fund Trust and authorize the Mr. President of the BCB to sign the Trust Constitution Contract with the APMT.
That as expressed in Report BCB-GAL-SANO-INF-2015-218, the Legal Affairs Management indicates that it has no legal observations regarding the constitution of the FPMT Trust within the framework of Law No. 300 and Supreme Decrees 1696 and 2389, and that in its opinion, the Institution's Board is empowered to approve the constitution of the FPMT Trust at the BCB and to authorize the President of the Issuing Entity to sign the respective contract.
THEREFORE,
THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA
RESOLVES:
Article 1.- Authorize the constitution of the Trust of the Plurinational Mother Earth Fund.
Article 2.- Authorize the Mr. President of the BCB to sign the Trust Constitution Contract with the Plurinational Authority of Mother Earth in his capacity as Settlor.
Article 3.- The Presidency and General Management are charged with the execution and compliance of this Resolution.
La Paz, June 9, 2015
Sergio Velarde Vera Reynaldo Yujra Segal Abrahani Berez Alandia
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