34
TO:
HONG KONG
DRAFT TELEGRAM
CONFIDENTIAL, PRIORITY
MONETARY DISTRIBUTION:IFID/ODA
HONG KONG DEPARTMENT
SIR J COLES
MR BURNS
REPEATED TO: BRITISH EMBASSY, MANILA
FROM: PETER FREEMAN, HEAD OF INTERNATIONAL DIVISION, ODA
YOUR TELNO. 1343: FINANCING OF AIRPORT CORE PROGRAMME PROJECTS: POSSIBLE ADB LENDING
Summary
1.
While we do not wish to stand in the way of any loan which
would prefer not ADB may decide to make, we do not wish to be in the forefront of
campaigning on your behalf.
Detail
2. We are grateful for your explanation of the points raised
24 & 32 in my telno.668 and discussed between Nendick and me in Hong Kong
on 4 May.
follows.
Our present views on the three points at issue are as
3.
Although we remain doubtful about the ADB making any loan
to a borrower with a GDP per capita as high as yours, we are impressed by your argument that the ACP will bring substantial
benefits to Guangdong Province. We see this as
as primarily a
matter for the ADB, who will no doubt wish to look at it also in
the context of their lending programme to China.
4. On the question of whether ADB participation could send the wrong signals to other lenders (paragraph 4 of my telno.668 also refers) we are satisfied by the explanation in paragraph 4 of
We
presume that Morgan Stanley have taken
TUR,
人
on.
the
considerations into account.
these
15.