Board Resolution No. 103/2013

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That Law No. 1670 of October 31, 1995, establishes in subsection f) of its Article 29 that the BCB may carry out trust and administration operations in its capacity as the financial agent of the Government.

BOARD RESOLUTION NO. 103/2013
SUBJECT: INTERNATIONAL OPERATIONS MANAGEMENT — APPROVES NON-REFUNDABLE TRANSFER OF USD 600 MILLION FOR THE CONSTITUTION OF FINPRO.

HAVING SEEN:

The Political Constitution of the State promulgated on February 7, 2009.

Law No. 232 of April 9, 2012, which creates the "Fund for the Productive Industrial Revolution (FINPRO)".

Law No. 1670 of the Central Bank of Bolivia (BCB) of October 31, 1995.

Supreme Decree No. 1367 of October 13, 2012.

The note MEFPNPSF/DGSF/N° 354/2013 of July 30, 2013, from the Ministry of Public Economy and Finance.

The Report from the International Operations Management BCB-GOI-SRES-INF-2013-13 of July 30, 2013.

The Report from the Administration Management BCB-GADM-SCONT-DAF-INF-2013-54 of July 30, 2013.

• The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2013-262 of July 30, 2013.

CONSIDERING:

That the Political Constitution of the State in its Article 316, numeral 4, establishes mechanisms for financing and resource allocation.

That Law No. 232 of April 9, 2012, creates the Fund for the Productive Industrial Revolution (FINPRO) with the purpose of financing the investment of productive state initiatives that generate surpluses.

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  /12. R.D. N° 103/2013

That the Ministry of Public Economy and Finance, through note MEFPNPSF/DGSF/N° 354/2013 of July 30, 2013, requests that, in compliance with Article 6 of Law No. 232, the transfer of USD 600 million corresponding to the non-refundable transfer for the constitution of FINPRO be carried out.

That the International Operations Management, through Report BCB-GOI-SRES-INF-2013-13 of July 30, 2013, recommends that to comply with Law No. 232, Supreme Decree No. 1367, and the request of the Ministry of Public Economy and Finance, the Board of Directors of the BCB approve the non-refundable transfer of USD 600 million for the constitution of FINPRO.

That the Administration Management, through Report BCB-GADM-SCONT-DAF-INF- • 2013-54, concludes and recommends that prior to the effective execution of the transfer of USD 600,000,000.- within the framework of Law No. 232, a Special Reserve be constituted with the purpose of covering decreases in the BCB's assets.

That the Legal Affairs Management in Report BCB-GAL-SANO-2013-262 concludes that there is no legal impediment for the Institution's Board to authorize the aforementioned non-refundable transfer of USD 600 million and authorize the President of the Institution to sign the Trust Constitution Contract for the Fund for the Industrial and Productive Revolution and the Administration and Investment Contract for the resources of the FINPRO Trust, whose effective execution is subject to the constitution of a Special Reserve intended to cover decreases in assets.

THEREFORE,

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

Article 1.- Authorize the non-refundable transfer of six hundred million 00/100 United States dollars (USD 600,000,000.-) from the International Reserves to FINPRO, charged to Patrimonial Reserve accounts.

Article 2.- Authorize the Administration Management to constitute a Special Reserve with the purpose of covering decreases in the BCB's assets.

Article 3.- Authorize the President of the Institution to sign the Trust Constitution Contract for the Fund for the Industrial and Productive Revolution — FINPRO and the Administration and Investment Contract for the resources of the FINPRO Trust.

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1/3. R.D. N° 103/2013

Article 4.- The Presidency and the General Management are charged with the execution and compliance of this Resolution.

La Paz, July 30, 2013

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Gustav eglacutt Alcala

• Hugo Dorado Aranib
  erez Alandia