Spain and the World Bank sign agreement for their offices in the country

The Official State Gazette (BOE) number 228, dated September 15, 2026, publishes in its section I the provisional application of the Agreement between the Kingdom of Spain and the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the International Centre for Settlement of Investment Disputes (ICSID), and the Multilateral Investment Guarantee Agency (MIGA) regarding the establishment and operation of offices in Spain. The text, with official reference BOE-A-2026-19199, applies provisionally from July 15, 2026, in accordance with its article XVI.

The agreement was signed in Madrid and Washington on June 29 and on July 13, 14, and 15, 2026, and its publication is the responsibility of the Ministry of Foreign Affairs, European Union and Cooperation. Spain has been a member of the five organizations since different dates: the IBRD since September 15, 1958, the IDA since October 18, 1960, the IFC since March 24, 1960, the ICSID since September 17, 1994, and the MIGA since April 29, 1988.

A framework of status and immunities

The agreement recognizes full legal personality and the capacity to contract, acquire, and dispose of assets for the organizations of the World Bank Group, as well as a broad regime of immunities and privileges. Their property and assets shall enjoy immunity from registration, requisition, seizure, or expropriation, and their archives shall be inviolable in any format or medium.

The office shall be inviolable and under the control of the organizations, which may establish one or several facilities in Spain following written notification to the Ministry of Foreign Affairs, European Union and Cooperation. The head of office shall enjoy the same privileges as heads of diplomatic missions accredited to Spain, with diplomatic status and inclusion in the diplomatic list.

Protection, services, and taxation

Spain shall guarantee the security and protection of the office, with a dynamic risk assessment and the same response priority as that provided to diplomatic missions. The organizations may employ armed security agents, whose permits will be processed by the Ministry’s Protocol department free of charge.

Regarding taxation, the organizations shall be exempt from all direct and indirect taxes, customs duties, and VAT on goods and services for official use. They shall also have freedom of movement and financial operations, with free disposal of funds and currencies, and may use the portion of capital subscriptions paid by Spain to cover local expenses.

Personnel and dispute resolution

Organization personnel shall enjoy the immunities and privileges customarily recognized for personnel of international organizations, and dependents may engage in remunerated work in Spain with authorization from the Ministry. Disputes between the Parties shall be resolved through friendly negotiation and, failing that, in accordance with the constitutive legal instruments of the organizations.

The agreement was signed by Carlos Cuerpo Caballero, First Vice President of the Government and Minister of Economy, Trade and Enterprise, on behalf of Spain, and by Makhtar Diop (IFC), Jay Hembach (IBRD/IDA), Ed Mountfield (MIGA) and Martina Polasek (ICSID) on behalf of the organizations. Final entry into force will occur when Spain notifies in writing the completion of its internal procedures.

The publication of this agreement consolidates Spain as the seat of the World Bank Group operations in the region, providing its offices with a legal status comparable to that of diplomatic missions. For readers, it represents a reinforcement of Madrid’s role as a hub for international financial institutions and a framework of legal certainty for the organization’s activities in the country.

Source: Official State Gazette, no. 228, September 15, 2026, Sec. I, page 122197 (official reference: BOE-A-2026-19199).