Regulations for Investments by the International Cooperation and Development Fund Article 12

1. The currency, amount, and investment period of an investment made by the Fund shall be as follows:(1) Currency: Major international currencies or the local currency.(2) Investment amount: Unless otherwise approved by the Board of Directors of the Fund, an investment amount shall not exceed 35 percent of the total project amount of the proposed investment or 35 percent of the total shares of the investment target.(3) Investment period: As a general rule, the investment period shall not exceed 10 years. However, if a proposed investment, after appraisal, is deemed to serve as a major objective of international cooperation and development or if the Fund, considering objective circumstances, is unable to immediately withdraw from the investment prior to the expiration date, the investment period may be extended upon approval by the Board of Directors of the Fund.2. With respect to Subparagraph 3 of the preceding Paragraph, the Board of Directors of the Fund may resolve, after conducting an evaluation, to terminate or withdraw from an investment prior to the expiration of the investment period.