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1. On June 9th, 1995, the Governments of Argentina and Bolivia agreed on establishing a Binational Commission for the Development of the Upper Bermejo and Grande de Tarija River Basins. This Binational Commission is responsible for managing those two basins, so as to achieve the sustainable development of their area of influence, optimize the use of their natural resources, generate employment, attract investments and provide for rational and equitable use of their water resources.
2. The Binational Commission has international legal status, autonomy in technical, administrative and financial matters and legal capacity to acquire rights and assume obligations. Among its functions are: selecting projects to be carried out; arranging funding for studies and projects selected; issuing international calls for bids; awarding contracts for water resources studies, programs and project works; granting concessions for the execution and use of planned works and projects, without Governments guarantees or endorsements; contracting the services necessary for fulfillment of the objectives of the Agreement; and planning and executing activities necessary for the development of the basins.
3. A specific paragraph establishes that power generated by hydroelectric plants built in Bolivia may be sold on the Argentinean market under the same conditions as for power produced in the Argentine Republic. Also, anyone constructing hydraulic works in the basins will agree with the parties to set aside capacity throughout the year or during certain months, to accumulate water during high water periods, and to mitigate negative impacts downstream.