Rapporto esplicativo

Explanatory Notes

Preamble. Representatives highlighted that the Bank would be established as a multilateral financial institution to promote sustained and stable growth in Asia.

Article 1, paragraph 2. Representatives noted that the current geographical region and composition listing for Asia and Oceania by the United Nations for statistical purposes formed the basis for their consideration of “Asia” and “region”. The listing can be found at http://unstats.un.org/unsd/methods/m49/m49regin.htm.

Representatives further noted that future decisions on regional classification, if needed, would be made by the Board of Governors under paragraph 2 of Article 1, and that decisions on new members would be made by the Board of Governors under paragraph 2 of Article 3.

Article 5, paragraphs 2 and 3. While representatives recognized that the Board of Governors might need to exercise some flexibility in the future that would reduce the regional shareholding percentage in paragraphs 2 and 3 below 75%, representatives agreed that a minimum of 70% regional shareholding would be important in preserving the regional character of the Bank. Representatives noted that, in Schedule A, unallocated shares had been shown for regional members (Part A) and non-regional members (Part B), respectively, in anticipation of additional members joining in each category.

Article 5, paragraph 4. Representatives noted that the basic parameter for allocation of capital stock to members would be the relative share of the global economy of members within the regional and non-regional groupings, respectively. Members’ shares of the global economy would be measured by reference to Gross Domestic Product (GDP), with the understanding that GDP share would be indicative only for non-regional members.

Representatives further noted that reviews of capital stock by the Board of Governors need not result in a capital increase, and any such increase would require Board of Governors’ approval in accordance with paragraph 3 of Article 4.

Article 6, paragraph 5. Representatives agreed that a member that is eligible to borrow from the International Development Association (but not from the International Bank for Reconstruction and Development) would be considered a less developed country for purposes of this paragraph.

Article 11, paragraph 1. Representatives noted that the Preamble and the functions and purposes of the Bank in Articles 1 and 2 focus on the economic development of the Asia region. To the extent permitted under its operational policies, the Bank could provide financing to recipients located outside the region under Article 11, paragraph 1, consistent with its purpose and functions.