TNAG-2124-FCO40-3031-Hong-Kong-Asian-Development-Bank-(ADB)-1990 — Page 8

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OVERSEAS DEVELOPMENT ADMINISTRATION Eland House, Stag Place, London SW1E 5DH

Telex: 263907/8

FAX: 071-273

Telephone: 071-273

or Switchboard: 07 1:278-8098-

GTN:

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Nicholas Bailey Esq., UK Executive Director, Asian Development Bank Manila.

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11

ASIAN DEVELOPMENT BANK; LOCATIO LOCATION

ION OF ANNUAL MEETINGS.

1. I am sorry that you have not had an earlier reply to your letter 41.05-769/90 of 4 June. We discussed this briefly while you were in London escorting President Tarumizu.

2. I have consulted the FCO about the advant ages and disadvantages of holding an annual meeting in Hong Kong. Mike Power and I also had a word with Vice-President Stanley Katz about the general question of location of annual meetings when he called on us on 6 July.

3. Our position remains that we would prefer at least one in two of all annual meetings to be held in Manila rather than elsewhere, essentially on three grounds: first, the Bank has a policy to this effect; second, we assume that there are cost advantages and that it is less disruptive for management and conference support services to remain in Manila; and third, because meetings in Manila give visiting delegations the opportunity to meet more Bank staff than at away meetings. We think that the effect on the practice of other IFIs is a further factor to be taken into account. (On the second of these three points, I note what you say in paragraph 4 of your letter about the likely cost of a meeting in Hong Kong; I note also that Walter Birrell calculated that the incremental cost of an away meeting would be no more than $150,000, or 0.15% of the administrative budget; but we wonder if this takes into account the total cost of away meetings, including fares and subsistence for all those who attend). Security considerations also need to be taken into account: in this respect it is interesting that Stanley Kat z acknowledged that home meetings were easier for the Bank to arrange than away meetings and that he himself hoped that the 1992 meeting would be held in Manila.

14

4.

We should accordingly be grateful if you would press for at least the 1992 meeting, and ideally the 1993 meeting as well, to be held in Manila. In doing so you could draw on the points in the previous paragraph. You could also point out that the principle of one meeting in Manila for every one away was agreed as recently as 1989.

5. If however it becomes clear that the balance of opinion is against Manila, then we should be grateful if you would support Hong Kong's offer to host an annual meeting. You could say that Hong Kong is ideally placed to host such an event: they currently have over 27,000 hotel rooms and we would expect the new Convention and Exhibition Centre, one of the largest and most modern in Asia, to be used. Furthermore we have been informed by the FCO that the Chinese have been consulted and have stated that since Hong Kong is a member of the Asian Development Bank in its own right, they would support Hong Kong in its bid to hold a meeting. As far as we know, there would be no difficulty with late April/early May in any of the years under consideration. You could point out that the Bank has been aware for over two months of Hong Kong's wish to host an annual meeting, since the Alternate Governor extended an invitation to this effect at the end of his statement to the Annual Meeting in New Delhi in May.

6. Incidentally, it is not clear to us how far ahead the Board settles the location of annual meetings: your letter of 4 June states very definitely that France will host the 1994 meeting, and that Fiji has a bid for 1993 or 1994. That could complicate Hong Kong's chances if we are aiming to get back to the agreed pattern of home matches.

7.You will no doubt keep us informed of any tea sessions or

informal discussions with other Executive Directors on this subject.

Yours, Jennifer

MRS JC RADICE

IFID,

ODA.

cc: Mr. Paul, HKD/FCO

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C102/1

118,

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RECENS

FROM A R Paul U1 1990

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Hong Kong Department

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DATE: 3 July 1990

CC:

Mr McLaren

Mr Burns

Mrs Radice

International Financial Institutions Dept

- Rm E429, ODA

Eland House-

ADB

-

POSSIBLE ANNUAL MEETING IN HONG KONG

1. Thank you for your minute of 14 June. We support the

idea of Hong Kong hosting an ADB meeting.

2. To answer your specific questions (paragraph 5 of your

minute):

(a) we see significant political advantages in the

proposal. It would not only give Hong Kong the

- international prestige associated with hosting such an

event, but would also provide an opportunity for many

members of governments and senior bankers to see the territory at first hand. We also see advantage in Hong

Kong hosting such a meeting before 1997. This would help to emphasise Hong Kong's autonomous status in the ADB, which is the only international financial organisation in which Hong Kong participates and will continue to participate after 1997 as a full member in its own name and right;

BATAHK/1

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