Part 3: Capital Measures
Treasury
Global Recession — increased capital for the Asian Development Bank
| 2008‑09 | 2009‑10 | 2010‑11 | 2011‑12 | 2012‑13 | |
|---|---|---|---|---|---|
| Department of the Treasury | - | - | - | - | - |
The Government will contribute US$197.6 million (A$287.5 million) over 10 years of additional paid in capital toward the Asian Development Bank's (ADB) US$110 billion General Capital Increase to assist in supporting countries in the Asia‑Pacific Region during the global recession and meet the region's ongoing development needs. Australia will also increase its uncalled capital subscription by US$5.6 billion (A$8.1 billion) which would only be drawn down in the unlikely event that the ADB is unable to meet its financial obligations. Founded in 1966, the ADB has never drawn on its uncalled capital subscriptions.
These resources will be used to support economic recovery and stability in the Asia Pacific region, which will in turn support economic recovery in Australia.
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