TNAG-2473-FCO40-3600-Asian-Development-Bank-liabilities-of-Hong-Kong-1992 — Page 50

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Hong Kong's Contribution to the Fifth Replenishment

of the Asian Development Fund

Hong Kong has been asked by the ADB to contribute to

of the Asian Development Fund (commonly

the fifth replenishment

known as ADF VI). The ADF was formally established in June 1974

Development Bank to provide a systematic mechanism

resources for concessionary

by the Asian

for mobilizing and administering

lending to the Bank's neediest developing member countries

Contribution to the ADF is purely voluntary and the

(DMCs).

traditional donors have been the developed member countries.

2.

1987.

Hong Kong made a contribution of US$ 1 million each to

the third replenishment in 1983 and the fourth replenishment in

The Chinese side was informed of our contribution to the

replenishment at JLG IV in July 1986 and that the

contribution would be fully paid up by 30 June 1997, so that Hong

Kong's ADF contributions would not create any contingent

liability for China.

fourth

3.

In December

1991, the Bank concluded negotiations on

ADF VI to cover the period 1992-95. The agreed replenishment

total is US Dollars

4.2 billion.

In the course of the

negotiation, Hong Kong and other more advanced DMCs were urged to