The Protocol for the Reconstruction of Austria was an agreement concludued on 4 October 1922 between the government of Austria and the governments of the United Kingdom, France, Italy and Czechoslovakia, providing for a gradual reconstruction of Austrian economy under League of Nations supervision. It was registered in League of Nations Treaty Series on the same day. The Spanish government acceded to the protocol on 3 November 1922.
Contents
Terms
The Protocol consisted of three declarations, all issued on the same date. In declaration No. 1, the signatory parties undertook not to violate Austrian territorial or economic independence. Declaration No. 2 regulated the foreign loans to be granted to the Austrian government. It established a Committee of Control to consist of the other signatory parties to overlook the allocations of funds during reconstruction. Declaration No. 3 granted the Austrian government the time required to arrange internal legislation in order to conform to declaration No. 2 as well as the right to appeal certain decisions made by the Committee of Control.
Aftermath
The 1922 protocol was supplemented by the "Austrian Protocol" signed on 15 July 1932, under which the governments of Belgium, the United Kingdom of Great Britain and Northern Ireland, France, Italy and the Netherlands undertook to lend the Austrian government 300,000,000 Austrian Schilings for a period of 20 years.