TNAG-1489-FCO40-2046-Hong-Kong-and-the-Asian-Development-Bank-1986 — Page 12

Non regional members are Austria, Belgium, Canada, Denmark, Finland, Germany, Italy, Netherlands, Norway, Spain, Sweden, Switzerland, UK, USA.

Each member country subscribes to the Bank's capital stock. Under the Bank's Charter the non-regionals' total share of the capital cannot exceed 40%. Because three of the regionals are donor countries, in effect this means that the donor countries have a majority vote (59% following the

latest increase in capital stock). The non-regionals voting power is

36.2% and UK's 2.23%.

Organisation The Bank consists of a Board of Governors, Board of Directors a President, three Vice-Presidents, and other officers and staff.

Each member country nominates one Governor and one Alternate Governor who exercise the voting power to which the member is entitled. Mr Timothy Raison MP, Minister of State for Foreign and Commonwealth Affairs and Minister for Overseas Development is the UK's Governor; and Mr JL F

Buist is the Alternate Governor.

The Board of Directors, which is elected by the Board of Governors,

consists of 12 members - eight representing regional members and four representing non-regional members. Directors normally hold office for a term of two years and may be re-elected. Each Director appoints an

Alternate Director. Since 1981 Directors of certain constituencies

have also been able to appoint an Assistant. This has been extended to other constituencies, including our constituency Austria/Germany/UK

from early 1984.

Since 1 July 1985 our Director has been Dr Martin Schmid (a German),

and the Alternate Director Dr Gerhard Kantner (an Austrian). Mr David

Craxton, on ODA officer seconded to the Bank, is currently Director's

Assistant. He will succeed Dr Kantner as Alternate Director from 1 July

1986 and then become Director from 1 July 1987. Arrangements for

representation up to mid-1989 have been agreed between the three countries.

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