No. 34 of 2005 - Development Banks Act 2005
What does this law do?
The Act will facilitate meeting Ireland’s international obligations in a timely fashion and will support the delivery of the Government’s Overseas Development Assistance Strategy, including the policy of attaining the UN target for assistance of 0.7% of GNP by 2012.
The Act provides for Ireland’s membership of the Asian Development Bank; a multilateral development finance institution, dedicated to reducing poverty in Asia and the Pacific. Membership of the Asian Development Bank is identified as an objective in the Asia Strategy and Ireland has long wished to participate in the work of the Bank in that region.
The Act also amends the existing legislation to give effect to the decision the European Bank for Reconstruction and Development add Mongolia to the area of operations of that Bank in 2004.
Contact Department: Department of Finance
Signed by the President on: 21/12/2005
Full version of the Development Banks Act 2005 on the Oireachtas website