INTERNATIONAL FINANCE CORPORATION

                               BOARD OF GOVERNORS



                                   Resolution No. 265

                                Membership of Tuvalu


    WHEREAS, the Government of Tuvalu has applied for admission to membership in
the International Finance Corporation in accordance with Section 1(b) of Article II of the
Articles of Agreement of the Corporation; and

    WHEREAS, pursuant to Section 17 of the By-Laws of the Corporation, the Board of
Directors, after consultation with representatives of the Government of Tuvalu, has made
recommendations to the Board of Governors regarding this application;

    NOW, THEREFORE, the Board of Governors hereby

    RESOLVES:

     THAT the terms and conditions upon which Tuvalu shall be admitted to membership
in the Corporation shall be as follows:

1. Definitions: As used in this Resolution:
   (a) “Corporation” means International Finance Corporation.
   (b) “Articles” means the Articles of Agreement of the Corporation.
   (c) “Dollars” or “$” means dollars in currency of the United States of America.

2. Subscription: By accepting membership in the Corporation, Tuvalu shall subscribe to
520 shares of the capital stock of the Corporation at the par value of $1,000 per share.

3. Payment of Subscription: Before accepting membership in the Corporation, Tuvalu
shall pay $520,000 to the Corporation representing payment in full for the 520 shares of
the capital stock subscribed.

4. Information: Before accepting membership in the Corporation, Tuvalu shall furnish
to the Corporation such information relating to its application for membership as the
Corporation may request.

5. Effective Date of Membership: Tuvalu shall become a member of the Corporation
with a subscription as set forth in paragraph 2 of this Resolution as of the date when
Tuvalu shall have complied with the following requirements:
    (a) made the payment called for by paragraph 3 of this Resolution;
    (b) furnished such information as may have been requested by the Corporation
        pursuant to paragraph 4 of this Resolution;
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   (c) deposited with the International Bank for Reconstruction and Development an
       instrument stating that it has accepted without reservation in accordance with its
       law the Articles and all the terms and conditions prescribed in this Resolution, and
       that it has taken all steps necessary to enable it to carry out all its obligations
       under the Articles and this Resolution; and
   (d) signed the original Articles held in the archives of the International Bank for
       Reconstruction and Development.

6. Limitation on Period for Fulfillment of Requirements of Membership: Tuvalu may
fulfill the requirements for membership in the Corporation pursuant to this Resolution
until June 30, 2019, or such later date as the Board of Directors may determine.



                                                        (Adopted on September 28, 2018)