Examples of Bank of Italy in a sentence
Payments of principal and interest to the Bank of Italy by the Trust are to be made in SDRs, or in a freely usable currency as may be agreed between the Trustee and the Bank of Italy (Paragraph 7(a)).
On April 18, 2011, the Fund, as Trustee of the Poverty Reduction and Growth Trust (PRGT), entered into a borrowing agreement (the “Agreement”) with the Bank of Italy, by which Italy will provide new loan resources of up to SDR 800 million (see attachment).
Loan commitments and operations are denominated in SDRs. Disbursements under the Agreement are to be received by the Trust in SDRs, unless otherwise agreed between the Trustee and the Bank of Italy (Paragraph 4(a)).
Borrowing Agreement Between the Bank of Italy and the International Monetary Fund as Trustee of the Poverty Reduction and Growth Trust The Bank of Italy (the “Bank”) agrees to lend to the International Monetary Fund (the “Fund”) as Trustee (the “Trustee”) of the Poverty Reduction and Growth Trust (the “Trust”) for the purposes of providing loan resources to the Trust.
The new borrowing agreement with the Bank of Italy represents an important contribution to the PRGT.