Fecision on
14 April 1992
CONFIDENTIAL
Нив 10211
धि
XCC(92)73
24
Copy No. 30
MEMORANDUM FOR EXECUTIVE COUNCIL
ASIAN DEVELOPMENT BANK
CONTRIBUTION TO THE FIFTH REPLENISHMENT OF THE ASIAN DEVELOPMENT FUND
THE PROBLEM
The Asian Development Bank (ADB) has sought a contribution from Hong Kong to the fifth replenishment of the Asian Development Fund (commonly known as ADF VI). It is necessary to decide on the amount of Hong Kong's contribution.
RECOMMENDATION AND ADVICE SOUGHT
2
It is recommended that Hong Kong should contribute US$3 million to the fifth replenishment of the Asian Development Fund, subject to the provision of the necessary funds by the Finance Committee of the Legislative Council.
3
Members will be asked to advise whether this recommendation should be approved.
BACKGROUND
4
The Asian Development Fund (ADF) was formally established in June 1974 by the ADB to provide a systematic mechanism for mobilizing and administering resources for concessionary lending to the Bank's neediest developing member countries (DMCs). Contribution to the ADF is purely voluntary and the traditional donors have been the developed member countries (Japan, the United States, Canada, the United Kingdom, Germany, Australia, France, Italy, Netherlands etc.). Resources are replenished in phases to cover lending for three to four years. The last replenishment, ADF V, covered the period 1986-90.
Executive Council