in
Little public reaction is expected as the general public has never shown any great interest Hong Kong's membership of the Bank and its previous contribution to ADF IV.
Publicity
16
a
A press release will be issued after approval for the necessary funds has been obtained. It will explain that Hong Kong's contribution of US$1 million (as against replenishment total of US$3.6 billion) is a token of support for the Bank's objectives, namely, to promote the flow of financial resources into the region to help generate economic development of its DMCs which would in turn lead to more rapid growth of international trade. It will also highlight Hong Kong's continued participation in ADB after 30 June 1997 and benefits that accrue from its membership eg. eligibility to apply for loans from the Bank's ordinary capital
ordinary capital resources, eligibility of Hong Kong companies to supply goods and services for ADB financed contracts which are confined only to member countries.
Advice sought
17
Members will be asked to advise whether, subject to the provision of the necessary funds by the Finance Committee of the Legislative Council, Hong Kong should contribute US$1.0 million to the fourth replenishment
the fourth replenishment of the Asian Development
Fund.
(The Secretary for Monetary Affairs, Mr D.A.C. NENDICK, will attend before the Council for discussion of this item.)
29 December 1986 (A6/1C)
COUNCIL CHAMBER
No comments yet.
Private notes are available after approval.