BAKU, Azerbaijan -- The Asian Development Bank will need to boost its capital to meet the region's enormous infrastructure financing needs, President Takehiko Nakao told member nations Monday.
In response, Chinese Finance Minister Lou Jiwei said that the ADB should consider both a general capital increase (GCI) and a selective capital increase (SCI).
China currently has a 6% stake in the ADB, and has been pushing for a capital hike on the basis that members from developing countries should have more say in the bank's affairs.
