TNAG-1489-FCO40-2046-Hong-Kong-and-the-Asian-Development-Bank-1986 — Page 13

The President is elected by the Board of Directors for a five year term of Office and is nominated by the Japanese Government. The current

An President is Mr Masao Fujioka, who took office in November 1981. election is due this year, and Mr Fujioka is expected to be re-elected.

There are 3 Vice-Presidents appointed by the Board of Directors on the recommendations of the President. The senior Vice-President Mr S S Katz (US) - is responsible for Finance and Administration; the second Vice- President Mr G Schultz (Germany) deals with the Agriculture, Irrigation and Rural Development, Infrastructure, and Industry and Development Banks departments; and the third, appointed in 1985, Mr M Narasimham (India) is concerned with the Country Department, Development Policy, Economics and Central Policy Service Offices. At 31 December 1985 the Bank had 1,553 staff from 36 member countries, of which 581 were professional staff

and 972 supporting staff. There were 31 British staff in post.

Bank's Finances At 31 December 1985 the Bank's authorised capital

These was US$16.222 million, of which $15.970 million was subscribed. figures include a general capital increase of 105% - $7,398.1 million - agreed in 1983, of which 5% will be paid in and the rest wll be callable.

At the same date ASDF resources totalled $6,801m of which $5,875 m

have been committed.

The Bank also has a Technical Assistance Special Fund contributed on an ad hoc basis. At the end of 1985 resources totalled $85.2 m, of which nearly

$77 m had been utilised.

Cost to the UK

Capital Stock - The UK has 36,131 shares (about 2.2% of the total subscribed) with a total value of some $378 m. Of that about $45 m is paid in and the

Under the rest is callable. About £22.9 m has been paid out to date. latest capital increase two more annual payments are due in 1986 and 1987,

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