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Annual meet in HK from today likely to be stormy

Chief plans to double ADB fund
HONG KONG. May 3: The annual meeting of the Asian Development Bank (ADB) opens here Monday, dominated by the need for billions of dollar tn fresh capital and the question of aid the former Soviet republics of Central Asia, reports AFP
Also looming on the agenda Is the ADB's future relationship with Cambodia, where operations have been suspended for two decades, and Vietnam, where new lending is still blocked by a US trade embargo.
Delegates said American reluctance to commit new resources to the Bank and resume lending to the two Indo-Chinese countries would trigger renewed clashes with the Japanese at this year's meet tng. the 25th since the Bank was formed.
As the biggest shareholders in the Manila-based Bank, grouping 36 Asia-Pacific countries and 16 other nations, Washington and Tokyo have long jostled for influence over its future direction.
This annual financial jamboree, grouping some 2,000 finance ministers, central bank governors and other officials.
also coincides with growing Aslan fears of competition for funds from Eastern Europe and the former Soviet Union.
ADB President Klmlmasu Tarumizu wants to boost the Bank's capital resources by between 25 billion dollar and 30 billion dollar over the next five years, more than double the current level, informed sources said
"We re trying to speed up the capital increase by the end of this year, said one highly-placed source, noting that the ADB would reach a limit on new lending in 1994 given its current capital resources of 24 billion dollar.
He said negotiations between member countries were likely to last about one year with governments making their financial commitments by the end of 1993.
But some delegates noted that the United States was cool towards the Idea with big capital replenishments of other multilateral agencies on the horizon.
The Americans feci great pressure in persuading Congress to dip into sizeable monies for International financial institutions, said Austra-
lia's Assistant Treasury Secretary Kenneth Waller
Waller said there was also some reluctance among others including European members. The management of the Bank needs to put out some groundwork and analysis, he said.
Five of the six newly-tiidc-pendent republics of the former Soviet- Union are meanwhile scheduled to make their maiden appearance al this year's meeting.
The republics of Azerbaijan. Kazkhstan, Kyrgyzstan, Turkmenistan and Uzbekistan have all accepted the Bank’s invitation to attend as observers. Political unrest has prevented Tajikistan from attending.
Dang Fook Lee, Secretary of the ADB Board, said the Central Asian republics appeared keen to Join the Bank as borrowing countries.
But he noted that only four had so far met the Bank's requirement of being members of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). Kazakhstan and Uzbekistan, the two biggest republics tn Central Asia, have yet to join the Bangkok-based agency.