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ADB tells members to brace for capital increase

The Ho Chi Minh City Metro is one of many public infrastructure projects that could help lift 40% of Asia's population out of poverty. (Photo by Ken Kobayashi)

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.

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