The East African Development Bank Act

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CHAPTER 231
THE EAST AFRICAN DEVELOPMENT BANK ACT
[PRINCIPAL LEGISLATION]
Arrangement of Sections
Section Title
1. Short title and application.
2. Interpretation.
3. Financial provision.
4. Certain provisions of Charter to Treaty of 1980 to have force of law.
SCHEDULE

rt title and application.
2. Interpretation.
3. Financial provision.
4. Certain provisions of Charter to Treaty of 1980 to have force of law.
SCHEDULE

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CHAPTER 231
THE EAST AFRICAN DEVELOPMENT BANK ACT
An Act to provide for the carrying out of the obligations of the Government
of the United Republic arising under the Treaty amending and re-
enacting the Charter of the East African Development Bank and to
provide for related matters. [8th June, 1984]
[DPG]
Acts Nos.

Treaty amending and re-
enacting the Charter of the East African Development Bank and to
provide for related matters. [8th June, 1984]
[DPG]
Acts Nos.

7 of 1984
15 of 1985
13 of 2005
8 of 2012
WHEREAS the Governments of the United Republic of
Tanzania, the Republic of Uganda and the Republic of Kenya,
hereinafter referred to as “the Parties”, did in Article 21 of
the Treaty for East African Co-operation of 6th June, 1967,
hereinafter referred to as “the Treaty of 1967”, agree to establish
a development bank, known as the East African Development
Bank, hereinafter referred to as “the Bank”, the Charter
therefore, hereinafter referred to as “the Charter”, being set out
in Annex VI of the Treaty of 1967;
AND WHEREAS the said Treaty of 1967 is no longer
operative;
AND WHEREAS the Parties by a Treaty signed on 23rd July,
1980, hereinafter referred to as “the Treaty of 1980”, agreed to
amend and re-enact the Charter of the Bank;
NOW, THEREFORE, BE IT ENACTED by the Parliament
of the United Republic of Tanzania as follows:
1.–(1) This Act may be cited as the East African Development
Bank Act. (2) This Act shall apply to Tanzania Zanzibar as well as to
Mainland Tanzania. Short title and
application

d as the East African Development
Bank Act. (2) This Act shall apply to Tanzania Zanzibar as well as to
Mainland Tanzania. Short title and
application

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THE EAST AFRICAN DEVELOPMENT BANK ACT [CAP. 231 R.E. 2023]
2. In this Act, unless the context requires otherwise-
“Minister” means the Minister responsible for finance. 3.–(1) There shall be charged on and paid out of the
Consolidated Fund, without further appropriation other than
this Act, all payments required to be made by the Government
to the Bank under the terms of the Treaty. (2) For the purpose of providing any sums required for
making payments under this section, the Minister may, on
behalf of the Government, make such arrangements as are
necessary, or raise loans by the creation and issue of securities
bearing such rates of interest and subject to such conditions
as to repayment, redemption or otherwise as he thinks fit, and
the principal and interest of such securities and the charges
and expenses incurred in connection with their issue shall be
charged on and be issued out of the Consolidated Fund.

f such securities and the charges
and expenses incurred in connection with their issue shall be
charged on and be issued out of the Consolidated Fund.

(3) Any moneys received by the Government from the
Bank, or raised under subsection (2), shall be paid into and
form part of the Consolidated Fund shall be available in any
manner in which the Consolidated Fund is available. 4.–(1) The provisions of the Charter annexed to the Treaty of
1980 and set out in the Schedule to this Act shall have the force
of law in the United Republic of Tanzania. (2) Where any of the Article of the Charter set out in the
Schedule is amended by the Governing Council of the East
African Development Bank, the Minister may, by order
published in the Gazette, amend the Schedule to this Act to
reflect the amendment to the chapter. (3) An order made under subsection (2) shall state the date
on which the amendment of the Charter comes or is deemed
to have come into force, and shall be laid in the next meeting
of the National Assembly following its publication. Interpretation. Financial
provision
Certain
provisions of
Charter to Treaty
of 1980 to have
force of law
Act No. 8 of 2012 s. 6

owing its publication. Interpretation. Financial
provision
Certain
provisions of
Charter to Treaty
of 1980 to have
force of law
Act No. 8 of 2012 s. 6

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578
SCHEDULE
(Made under section 4(1))
The Provisions of the Charter annexed to the Treaty of 1980 which
are to have the Force of Law in the United Republic of Tanzania
CHAPTER VI - CURRENCIES
Article 24 - Use of currencies
1.

to the Treaty of 1980 which
are to have the Force of Law in the United Republic of Tanzania
CHAPTER VI - CURRENCIES
Article 24 - Use of currencies
1.

The member states may not maintain or impose any restriction on
the holding or use by the Bank or by any recipient from the Bank for
payments in any country of the following-
(a) currencies received by the Bank in payment of subscription
to its capital stock;
(b) currencies purchased with the currencies referred to in
subparagraph (a) of this paragraph;
(c) currencies obtained by the Bank by borrowing for inclusion
in its ordinary capital resources;
(d) currencies received by the Bank in payment of principal,
interest, dividends or other charges in respect of loans
or investments made out of any of the funds referred to
in subparagraphs (a), (b) and (c) of this paragraph or in
payment of fees in respect of guarantees made by the Bank;
and
(e) currencies received from the Bank in distribution of the net
income of the Bank in accordance with Article 20 of this
Charter. 2.

by the Bank;
and
(e) currencies received from the Bank in distribution of the net
income of the Bank in accordance with Article 20 of this
Charter. 2.

The member States may not maintain or impose any restriction on
the holding or use by the Bank or by any recipient from the Bank, for
payments in any country of currency received by the Bank which does
not come within the provisions of paragraph 1 of this Article unless
such currency forms part of the Special Funds of the Bank and its use in
subject to special regulations. 3. The member States may not maintain or impose any restriction on
the holding or use by the Bank, for making amortization payments
or for repurchasing in whole or in part the Bank’s own obligations, or
currencies received by the Bank in repayment of direct loans made out
of its ordinary capital resources. 4. Each member State shall ensure, in respect of projects within its
territories, that the currencies necessary to enable payments to be made
to the Bank in accordance with the provisions of the contracts referred
to in Article 15 of this Charter shall be made available in exchange for
currency of the member State concerned. Act No. 8 of 2012 s. 7

racts referred
to in Article 15 of this Charter shall be made available in exchange for
currency of the member State concerned. Act No. 8 of 2012 s. 7

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THE EAST AFRICAN DEVELOPMENT BANK ACT [CAP. 231 R.E. 2023]
5. The Bank shall be accorded in the territories of the member states a
creditor status no less than that accorded to the International Monetary
Fund, the International Bank of Reconstruction and Development,
the International Bank of Reconstruction and Development, the
International Development Association, the African Development
Bank and the African Development Fund. Article 25 - [Repealed by Act No. 13 of 2005 s. 27(a)]
CHAPTER X - STATUS, IMMUNITIES AND PRIVILEGES
Article 42 - Purpose of Charter
To enable the Bank effectively to fulfil its objectives and carry out the
functions with which it is entrusted, the status, immunities, exemptions
and privileges set forth in this Charter shall be accorded to the Bank in
territories of each of the member States. Article 43 - Legal Status
The Bank shall possess full juridical personality and, in particular, full
capacity-
(a) to contract;
(b) to acquire, and dispose of, immovable and movable property;
and
(c) to institute legal proceedings.

in particular, full
capacity-
(a) to contract;
(b) to acquire, and dispose of, immovable and movable property;
and
(c) to institute legal proceedings.

Article 44 - Judicial Proceedings
1. The Bank shall enjoy immunity from every form of legal process
except in any case where it has expressly waived immunity in writing,
when it may be sued only in a court of competent jurisdiction in a
member state in which the Bank has an office, and has appointed an
agent for the purpose of accepting service or notice of process:
Provided that, no waiver of immunity shall be implied or extend to any
measure of execution. 2. No action shall be brought against the Bank by members or persons
acting for or deriving claim from members. However, members shall
have recourse to such special procedures for the settlement of disputes
between the Bank and its members as may be proscribed in Charter, in
the regulations of the Bank or in contract entered into with the Bank. Act No. 8 of 2012 s. 7
Acts Nos. 13 of 2005 s. 27(b)
8 of 2012 s. 7
Acts Nos. 13 of 2005 s. 27(b)
and (c)
8 of 2012 s. 7

t entered into with the Bank. Act No. 8 of 2012 s. 7
Acts Nos. 13 of 2005 s. 27(b)
8 of 2012 s. 7
Acts Nos. 13 of 2005 s. 27(b)
and (c)
8 of 2012 s. 7

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580
Article 45 - Immunity of Assets
1. Property and other assets of the Bank, wheresoever’s located and
by whomsoever held, shall be immune from interference, search,
requisition, confiscation, expropriation, nationalization, execution or
any other form of taking or foreclosure by executive or legislative or
judicial or administrative action and premises used for the business
of the Bank shall be immune from search provided that in legal
proceedings brought within the term of the Charter such immunity
shall apply before delivery of a final judgment against the Bank by the
highest court of competent jurisdiction. 2. The Bank shall prevent its premises from becoming refuges for
fugitives from justice, or for persons subject to extradition, or persons
avoiding service of legal process or a judicial proceeding. 3.

g refuges for
fugitives from justice, or for persons subject to extradition, or persons
avoiding service of legal process or a judicial proceeding. 3.

For the purpose of this Schedule, the term “property and assets of
the Bank” shall include property and assets owned or held by the Bank,
the Bank’s premises, deposits and funds entrusted to the Bank in the
ordinary course of fulfilling its mandate. Article 46- Immunity of Archives
The archives of the Bank and all documents belonging to it, or held
by it, shall be inviolable wherever located. Article 47 - Freedom of Assets from Restriction
To the extent necessary to carry out the objectives and functions of
the Bank and subject to the provisions of this Charter, all property and
other assets of the Bank shall be free from restrictions, regulations,
controls and moratoria of any nature. Article 48 - Personal Immunities and Privileges
1.

ets of the Bank shall be free from restrictions, regulations,
controls and moratoria of any nature. Article 48 - Personal Immunities and Privileges
1.

All Directors, alternate, officers and employees of the Bank shall be-
(a) immune from civil process with respect to acts performed by
them in their official capacity; and
(b) accorded such immunities from immigration restrictions or
alien registration, and where they are not citizens of a member
State, such facilities in relation to exchange regulations as are
accorded by member States to the representatives, officials
and employees of comparable rank of other member States. 2. Experts or consultants recovering services to the Bank shall be
accorded the same immunities and privileges as in paragraph 1 above,
unless the member State concerned determines otherwise. Acts Nos. 13 of 2005 s. 27(b)
and (c)
8 of 2012 s. 7
Act No. 13 of 2005 s. 27(b)
Act No. 13 of 2005 s. 27(b)

ber State concerned determines otherwise. Acts Nos. 13 of 2005 s. 27(b)
and (c)
8 of 2012 s. 7
Act No. 13 of 2005 s. 27(b)
Act No. 13 of 2005 s. 27(b)

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THE EAST AFRICAN DEVELOPMENT BANK ACT [CAP. 231 R.E. 2023]
Article 49 - Exemption from Taxation
1. The Bank shall be enabled to import free of customs duty any goods
required for the purpose of its operations except such goods as are
intended for sale or are sold, to the public.
2. The Bank shall be exempted from income tax and stamp duty.
Article 51 - Waiver of Immunities
1. The Bank at its discretion may waive any of the privileges, immunities
and exemptions conferred under this Charter in any case or instance,
in such manner and upon such conditions as it may determine to be
appropriate in the best interests of the Bank.
2. The Bank shall take every measure to ensure that the privileges,
immunities, exemptions and facilities conferred by this Charter are not
abused and for this purpose shall establish such regulations as it may
consider necessary and expedient.
Act No.
13 of 2005 s. 27(b)
Act No.
13 of 2005 s. 27(b)

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