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CONTRIBUTION BY HONG KONG TO THE ASIAN DEVELOPMENT FUND AND TECHNICAL ASSISTANCE SPECIAL FUND
1.
On 24 February 1992, the Board of Governors adopted Resolution No. 214 (Fifth Replenishment of the Asian Development Fund and Second Regularized Replenishment of the Technical Assistance Special Fund). Paragraph 3 of Resolution No. 214 provides for the acceptance by the Bank of
contributions by member countries to the replenishment of the ADF and the TASF.
2.
In
Paragraph 3(a) provides for contributions by specified member country donors (not including Hong Kong) in specified amounts. Paragraph 3(c) provides for the Bank to accept additional contributions to the ADF or the TASF from any member country or other source, upon such terms and conditions, not inconsistent with the ADF Regulations or the TASF Regulations, as may be approved by the Board of Directors. accordance with paragraph 3(c), the Government of Hong Kong has undertaken in the attached Instrument of Contribution to contribute an amount of three million United States Dollars (US$3,000,000) in accordance with the provisions of Resolution No. 214. The contribution will be paid in four equal instalments.
3.
Pursuant to paragraph 3(c), the Government of Hong Kong has specified that the provisions for allocation between ADF and TASF specified in paragraph 3(b) shall apply and that an amount in the same proportion as applicable for the original donors shall therefore be set aside from the first instalment of Hong Kong's contribution and allocated to TASF.
4.
The terms of Hong Kong's undertaking to contribute are in accordance with the provisions of Resolution No. 214. It is therefore recommended that the Bank accept Hong Kong's contribution. If the Board approves this recommendation, a reply will be sent in terms of the draft letter attached to this paper.