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Thursday, 18 November 2010
Page: 1627

Senator CORMANN (1:58 PM) —The International Financial Institutions Legislation Amendment Bill 2010 authorises subscription to additional capital stock in the International Bank for Reconstruction and Development, part of the World Bank. It also incorporates sensible changes to articles of agreement to the International Finance Corporation and to the Multilateral Investment Guarantee Agency Convention. Consistent with longstanding bipartisan support for Australia’s commitment to international financial institutions, including the World Bank, the opposition supports this legislation.