TNAG-2473-FCO40-3600-Asian-Development-Bank-liabilities-of-Hong-Kong-1992 — Page 128

Draft

by

DRAFT

File

No.

Your

Mrs Radice

Ref.

Addressed

Hong Kong

* SAVINGRAM

• TELEGRAM

Routine

Priority

Immediate

Flash

URGENCY

X

In

SECURITY * Unclass.

Conf.

Restricted

X

Conf.

Secret

Top Secret

Tel. No.

ENCLOSURES

(SAVINGRAMS ONLY)

Repeated by TELEGRAM/AIR MAIL (ROUTINE UNLESS OTHERWISE STATED)

Tel. No.

024

Peking

:

SPECIAL INSTRUCTIONS, DISTRIBUTION AND FURTHER ACTION

Monetary Distribution

REFERENCES AND AMENDMENTS

For Use In

Telegraph Branch:- SENT AT (TIME),

Your

tel.no.158:

Development Fund

V708

Return to Room No....

ON (DATE)..

Contribution

*Tick as appropriate ___

by Hong Kong

to the Asian

1986

We welcome the news that Hong Kong will contribute US$3 million to the Fifth Replenishment of the Asian Development Fund. (We had understood from an announcement by the Chairman of the Replenishment negotiations at the final meeting of donors in December that Hong Kong's contribution would be about US$2 million.)

2. Your paragraph 6. The current statutory limit for the UK guarantee to the Asian Development Bank of liabilities for any member of the ASDB for whose external relations the United Kingdom is responsible was increased from £90 million to £140 million in February 6 by the Asian Development Bank (Extension of Limit on Guarantees) Order 1986. (In practice this applies only to Hong Kong.) We confirm therefore that it will not be necessary for any new authority to be sort sought.

the

3. In this connection you should be aware that there is likely to be

general a

increase in the

of Asian capital stock Development Bank in about 1994. All members will be obliged to and will probably contribute towards this probably in the same proportions as their current shareholdings. We do not know at this stage how much the general capital increase will

will amount to. If the existing capital stock is

is doubled, Hong Kong would have to contribute US$16.46 accommodated within the total of $140 million referred to in the previous paragraph.

do so

Huon

million.

This

be too would

easily

it