E.
31-MAY-1992 16:45
Membership
SECRETARIAT PRESS OFFICE
TO: All overseas offices From: GTS (Duty Officer) Log: 019/L/F/376 Page: 3
+ 852 268 5212
MKB 102/1
The following is issued to the press today.
A note on Hong Kong's participation in the Asian Development Bank
Hong Kong joined the Bank in 1966.
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Britain and China have reached through the JLG that Hong Kong would maintain its separate membership after 30 June 97.
Today, there are 52 members in the Bank, out of which 33 are developing countries or territories.
The Financial Bank.
Secretary is Hong Kong's Governor in the
The Secretary For Monetary Affairs is the Alternate Governor in the Bank.
ADE capital stock
The developed countries provide about 60 percent of the total capital stock.
Hong Kong has Bank.
smali share holding (0.597%) in the
The capital stock is replenished periodically. The timing, size and composition of the next replenishment, called the fourth General Capital Increase, is being examined by the Bank.
Ordinary Capital Resources (OCR).
OCR comprise subscribed capital, funds and reserved raised through borrowings.
Loans from the OCT are generally available to Bank members. The lending rate is adjusted six-monthly in the relation to the cost of the pool of funds borrowed by the Bank.
In the 1970's Hong Kong! borrowed a total of some US$ 97 million from the OCR to finance five development projects in Sha Tin (housing, sewage treatment, polyclinic etc.) and they have all been repaid by 1987.
20/10'd
98:41 TO-SO-266I
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