TNAG-1489-FCO40-2046-Hong-Kong-and-the-Asian-Development-Bank-1986 — Page 64

AIDE MEMOIRE

ASIAN DEVELOPMENT BANK HONG KONG'S OBLIGATIONS

Please refer to the exchange of memoranda between the Government of the United Kingdom of Great Britain and Northern Ireland, and the Government of the People's Republic of China, dated 14 October 1985.

The Government of the United Kingdom undertook to consult the Government

of the People's Republic of China before the Hong Kong Government enters into any further commitment that would result in Hong Kong's liability to

the Asian Development Bank after 1 July 1997 being increased.

There is no requirement under the exchange of memoranda for Her Majesty's

Government to notify the Chinese Government of any new obligation to the Asian Development Bank undertaken by the Hong Kong Government if there would be no contingent liability for the Government of the People's Republic of China after 1 July 1997. However, I have the honour to inform you that, following a request from the Hong Kong Government, Her Majesty's Government have agreed that they may make a contribution of up to $1m to the fourth replenishment of the Asian Development Fund. This agreement has been given on condition that Hong Kong's contribution is fully disbursed before 1 July 1997. Thus there will be no contingent liability for the Government of the People's Republic of China.