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What it is

Spain contributes money to a fund helping Sub-Saharan Africa

BOE step 7 of 7 · Passed

It is a government bill. Introduced by the Government. It was introduced on 23 September 1986. Introduced by: GOBIERNO.

Official title: Government bill authorizing Spain's participation in the Special Fund for Sub-Saharan Africa.

Follow this law

Source: Congreso de los Diputados, file 121/000008· updated 11 Nov

Automatic summary, not yet reviewed

  1. The Government may take the steps needed for Spain to join the Special Fund for Sub-Saharan Africa, an initiative of the International Development Association.
  2. Spain will contribute 1,665,920,000 pesetas to the fund, paid in a single installment due June 30, 1987.
  3. The Bank of Spain may pay in freely convertible pesetas or issue demand promissory notes, which cannot be traded and earn no interest, instead of paying immediately.
  4. The Ministers of Foreign Affairs and of Economy and Finance may take any steps needed to carry out the law.
  5. The law takes effect the day after it is published in the Official State Gazette.

Who it affects

  • The Spanish Government: Must take the steps for Spain to join the fund.
  • The Bank of Spain: Must make the payment or issue the promissory notes.
  • The Ministers of Foreign Affairs and of Economy and Finance: May issue the measures needed to implement the law.
  • Countries in Africa south of the Sahara: Will receive fund credits to support economic reforms.

Words worth knowing

Asociación Internacional de Fomento (International Development Association)
A World Bank Group body that gives very low-cost loans to the poorest countries.
Pagaré a la vista (demand promissory note)
A payment document that is paid as soon as it is presented.
Libremente convertible (freely convertible)
Money that can be exchanged into other currencies without restrictions.
Derechos especiales de giro (DEG, Special Drawing Rights)
An accounting unit of the International Monetary Fund used as a reference among several currencies.

It summarizes the law as published in the BOE. It is written by artificial intelligence and may contain mistakes: the official text is what counts. Read the official text · How we make summaries

Where it stands

How far did it get?

It took 7 of 7 steps. It reached BOE, and today it is passed.

  1. Introduced23 September 1986Someone registers the text in the Congreso.
  2. Admitted30 September 1986The Bureau of the Congreso accepts it and, for a members’ bill, the plenary decides whether to consider it.
  3. Amendmentsno dateGroups propose changes.
  4. Committeeno dateA committee goes through the text in detail.
  5. Plenaryno dateAll 350 deputies vote.
  6. Senateno dateThe Senate can pass it, amend it or veto it.
  7. BOEno dateIt is published in the Official State Gazette (BOE) and comes into force.
See the 2 official steps on a timeline
Sept 198611. 23 September 1986: Presentación22. 30 September 1986: Calificación

Was there a plenary vote?

We have no plenary vote linked to this law in the Congreso’s data.

What happens next

What happens now?

It is law, or will be once published in the BOE. It comes into force on the date its own text sets.

Published in the BOE: Law 5/1987, of May 14, authorizing Spain's participation in the Special Fund for Sub-Saharan Africa.

Sources

Where does all this come from?

  • The data comes from the open files of the Congreso, the Senate and the BOE, unaltered.
  • Each deputy’s province is the one of their seat on the day of the vote.
  • We only say “passed” or “rejected” when the majority needed is certain; otherwise we say which side had more votes.

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