Section 1 Financing Operations

The Agency may make investments in productive projects selected by the Managing Director or members of the DAO in accordance with Schedule C. The existence of a government or other public interest in such project shall not necessarily preclude the Agency from making an investment therein.

Section 2 Forms of Financing

The Agency may make investments of its funds in such form or forms as it may deem appropriate in the circumstances.

Section 3 Operational Principles

The operations of the Agency shall be conducted in accordance with the following principles:

1. the Agency shall not finance a project if such project does not satisfy the conditions referred to in Section 1 of this Article;
   
   

2. the Agency shall not finance a project in the territory of a member if that member objects to such financing;
   
   

3. in preparing any country program or strategy, financing any project or by making designation or reference to a particular territory, or geographic area in its documents, the Agency will not deem to have intended to make any judgment as to the legal or other status of any territory or area;
   
   

4. the Agency shall impose no conditions that the proceeds of any financing by it shall be spent in the territories of any particular country;
   
   

5. the Agency may assume responsibility for managing a project in which it has invested in order to facilitate its implementation and may exercise such voting rights as it shall determine; provided, however, that before assuming responsibility for managing a project in the territory of a member, the Agency shall have obtained the approval of that member;
   
   

6. the Agency shall undertake financing on terms and conditions which it considers appropriate, taking into account the requirements of the project, the risks being undertaken by the Agency, positive contribution towards the SDGs, and the terms and conditions normally obtained by private investors for similar financing;
   
   

7. the Agency shall seek to revolve its funds by selling its investments to private investors whenever it can appropriately do so on satisfactory terms;
   
   

8. the Agency shall not allow a disproportionate amount of its resources to be used for the benefit of any member. The Agency shall seek to maintain a reasonable diversification in all of its investments; and
   
   

9. the Agency may establish specialized agencies as it deems necessary or desirable to carry out its purposes.

Section 4 Protection of Interests

Nothing in this Agreement shall prevent the Agency, in the event of actual or threatened default on any of its investments, actual or threatened insolvency of the project in which such investment shall have been made, or other situations which, in the opinion of the Agency, threaten to jeopardise its investments or other activities, from taking such action and exercising such rights as it may deem necessary for the protection of its interests.

Section 5 Applicability of Certain Foreign Exchange Restrictions

Funds received by or payable to the Agency in respect of an investment of the Agency made in any member's territories pursuant to Section 1 of this Article shall not be free, solely by reason of any provision of this Agreement, from generally applicable foreign exchange restrictions, regulations and controls in force in the territories of that member.

Section 6 Miscellaneous Operations

In addition to the operations specified elsewhere in this Agreement, the Agency shall have the power to:

1. borrow funds, and in that connection to furnish such collateral or other security therefor as it shall determine; provided, however, that before making a public sale of its obligations in the markets of a member, the Agency shall have obtained the approval of that member and of the member in whose currency the obligations are to be denominated; if and so long as the Agency shall be indebted on loans or guarantees, the total amount outstanding of borrowings incurred or guarantees given by the Agency shall not be increased if, at the time or as a result thereof, the aggregate amount of debt (including the guarantee of any debt) incurred by the Agency from any source and then outstanding shall exceed an amount equal to four times its unimpaired capital, reserves and surplus.
   
   

2. create investment funds in such form or forms as it may deem appropriate in the circumstances and invest its funds and private capital in any security, currency, commodity and any form of cryptocurrency, coin, token and asset backed token (hereinafter together referred to as “digital assets”) as it may determine all without being subject to the restrictions imposed by other Articles of this Agreement;
   
   

3. establish special purpose funds financed by the resources of its members;
   
   

4. establish Bitcoin reserves using the resources of interested members, and other organisations;
   
   

5. invest funds not needed in its financing operations in such obligations as it may determine and invest funds held by it for pension or similar purposes in any security, currency, commodity and any form of digital asset as it may determine all without being subject to the restrictions imposed by other sections of this Article;
   
   

6. issue digital assets in such form or forms as it may deem appropriate in the circumstance in order to facilitate their distribution; provided, however, that asset back tokens shall be one hundred percent (100%) backed by the Agency’s reserve, that before making a public sale of tokens or asset backed tokens in the market of a member, the Agency shall have obtained the approval of that member and of the member in whose currency the tokens or asset backed tokens are to be denominated.
   
   

7. buy and sell securities and digital assets it has issued or guaranteed or in which it has invested; provided however that the Agency shall obtain the approval of the member in whose territories the securities and digital assets are to be bought or sold;
   
   

8. guarantee securities and digital assets in which it has invested in order to facilitate their sale;
   
   

9. buy and sell Bitcoin and digital assets on behalf of a member in exchange from gold or a member’s resource, currency or asset backed tokens; all without being subject to the restrictions imposed by other Articles of this Agreement;
   
   

10. provide consulting and advisory services to members, and other organisations;
    
    

11. act as a bank or trustee of special purpose and provide custodial services to members, and other organisations;
    
    

12. exercise such other powers incidental to its business as shall be necessary or desirable in furtherance of its purposes.

In exercising the powers conferred by this Section, the Agency may deal with any member of the Business Consortium all without being subject to the restrictions imposed by other Articles of this Agreement.

Section 7 Valuation of Bitcoin

Whenever it shall become necessary under this Agreement to value any currency or asset in terms of the value of Bitcoin, such valuation shall be as reasonably determined by the Agency using the aggregate weighted average of the top 30 cryptocurrency exchanges by volume.

Section 8 Warning to be Placed on Securities and Offerings

Every security or offering issued or guaranteed by the Agency shall bear on its face a conspicuous statement to the effect that it is not an obligation of the Alliance or, unless expressly stated on the security or offering, of any government.

Section 9 Political Activity Prohibited

The Agency and its officers shall not interfere in the political affairs of any member; nor shall they be influenced in their decisions by the political character of the member or members concerned. Only socio-economic considerations shall be relevant to their decisions, and these considerations shall be weighed impartially in order to achieve the purposes stated in this Agreement.