SUBSCRIPTION TO THE AUTHORIZED CAPITAL STOCK OF THE ASIAN DEVELOPMENT BANK

Question. What has been the trend of the Bank's lending activities to date and what loans and technical assistance projects have been approved?

Answer. The Asian Development Bank has completed three full years in operation. It has committed $163.083 million for 32 loans to 13 countries. It has undertaken 24 technical assistance projects in 12 countries, as well as a number of important regional activities.

The pace of the Bank's lending activities has accelerated and this rate of growth is expected to continue. The Bank devoted its first year in operation to the task of setting itself up as a sound financial institution and surveying the problems and needs of the developing countries of the region. Loan commitments amounted to $42 million in 1968 and $98 million in 1969. They are expected to total more than $200 million in 1970, when it is anticipated that about 35 loans will be processed.

The Bank has made 24 loans, amounting to more than $138 million, from its Ordinary Capital resources, including 5 loans totalling $50 million to industrial development banks in Korea, Pakistan, Philippines, Singapore and Thailand, providing funds for relending to private borrowers, which will help enlist the talent and initiative of private enterprise in these countries in the promotion of industrial development.

The Bank began its commitment of Special Funds resources in 1969. It has committed almost $25 million for 8 concessional loans to Cambodia, Ceylon, Indonesia, Laos, Nepal, Philippines and Western Samoa for irrigation, land development, air transport, highway and power transmission projects.

A list of the Bank's loans follows:

ASIAN DEVELOPMENT BANK

ORDINARY CAPITAL RESOURCES-STATUS OF LOANS APPROVED AS OF APRIL 15, 1970

1 Inclusive of grace period (shown in parenthesis).

2 North-South Freeway feasibility study loan ($400,000) incorporated in Taipei-Yangmei Freeway loan; net new lending
$17,600,000.

3 Rate prevailing at time of crediting loan account.

• Term commences from date of crediting loan account.

ASIAN DEVELOPMENT BANK-SPECIAL FUNDS, STATUS OF LOANS APPROVED AS OF APRIL 15, 1970

The following is a list of the Bank's technical assistance projects approved to

date.

ASIAN DEVELOPMENT BANK

STATUS OF APPROVED TECHNICAL ASSISTANCE PROJECTS DEC. 31, 1969

Question. Which countries have offered contributions to the Asian Development
Bank's Special Funds and in what amounts?

Answer. In addition to their subscriptions to the Bank's Ordinary Capital, six
countries have offered contributions to the Bank's Special Funds in the total
amount of $159.45 million, of which $58.1 million is now available to the Bank.
Japan has offered $100 million, of which $40 million has been made available and
$30 million is budgeted for 1970. Canada has pledged $25 million over 5 years,
of which $15 million is now available. Denmark has provided $2 million. The
Netherlands has provided $1.1 million and pledged another $7.2 million. In addi-
tion, at the Bank's Third Annual Meeting, Australia offered $9.75 million over
3 years and the United Kingdom offered £6 million ($14.4 million) over 4 years.
Other countries have also indicated the possibility of contributions in the future.