Article 44

(a) The Agency may advance loans to cover any seasonal deficit in the national budget, provided such loans shall be payable within the three months immediately following the end of the fiscal year during which the loans ware granted, and provided also that such loans shall not exceed 10% of the budget revenues for the preceding year. Such loans shall bear interest at such rate as shall be determined by the Agency's Board of Directors. Similar loans may, with the prior approval of the Minister of Finance, be granted to Government organizations, Government agencies and public authorities.
(b) Without prejudice to the provisions of the preceding paragraph, the Agency shall have the right to advance to the Government, upon terms and conditions to be agreed upon, such loans as are necessary to pay the subscriptions and make other payments resulting from, or necessary for, the State of Bahrain's membership in any international financial institution, for the State of Bahrain's contribution to any account as a result of such membership, or for the execution of any related transactions or operations.